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`FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                September 5, 2019


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   Sep 4, 2019 
Federal Reserve Banks                                      Sep 4, 2019 Aug 28, 2019  Sep 5, 2018              

Reserve Bank credit                                         3,721,962   -    1,849   -  447,347    3,722,202  
  Securities held outright (1)                              3,587,092   -    2,455   -  427,152    3,587,116  
    U.S. Treasury securities                                2,095,140   +    3,871   -  219,689    2,095,164  
      Bills (2)                                                 3,001            0   +    2,901        3,001  
      Notes and bonds, nominal (2)                          1,951,802   +    3,859   -  225,572    1,951,802  
      Notes and bonds, inflation-indexed (2)                  116,545            0   +    1,107      116,545  
      Inflation compensation (3)                               23,792   +       13   +    1,875       23,816  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,489,605   -    6,326   -  207,401    1,489,605  
  Unamortized premiums on securities held outright (5)        127,687   -      302   -   18,724      127,584  
  Unamortized discounts on securities held outright (5)       -12,926   +       77   +      864      -12,957  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            97   -       43   -      142           93  
    Primary credit                                                  1   -       34   -        9            1  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                97   -        8   -      132           92  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,719            0  
  Float                                                          -522   -      349   +       18         -513  
  Central bank liquidity swaps (8)                                872   +      803   +      782          872  
  Other Federal Reserve assets (9)                             19,661   +      418   -    1,275       20,007  
Foreign currency denominated assets (10)                       20,798   -      119   -      259       20,767  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,025   +       14   +      358       50,025  
                                                                                                              
Total factors supplying reserve funds                       3,809,026   -    1,954   -  447,248    3,809,235  

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   Sep 4, 2019 
Federal Reserve Banks                                      Sep 4, 2019 Aug 28, 2019  Sep 5, 2018              

Currency in circulation (11)                                 1,760,709   +    9,109   +   75,123    1,765,745 
Reverse repurchase agreements (12)                             301,701   +   12,838   +   65,022      302,626 
  Foreign official and international accounts                  294,324   +   12,780   +   58,095      301,201 
  Others                                                         7,377   +       58   +    6,927        1,425 
Treasury cash holdings                                             158   -        2   -       53          163 
Deposits with F.R. Banks, other than reserve balances          214,758   -   11,916   -  180,163      242,001 
  Term deposits held by depository institutions                      0   -    1,668            0            0 
  U.S. Treasury, General Account                               148,740   +    2,783   -  175,024      174,779 
  Foreign official                                               5,270   +       14   +       14        5,255 
  Other (13)                                                    60,749   -   13,044   -    5,152       61,966 
Other liabilities and capital (14)                              44,145   -      858   +      279       44,247 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,321,471   +    9,171   -   39,793    2,354,781 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,487,555   -   11,125   -  407,455    1,454,454 

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   Sep 4, 2019 
                                                           Sep 4, 2019 Aug 28, 2019  Sep 5, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,451,011   -   24,348   +   22,163    3,451,827 
  Marketable U.S. Treasury securities (1)                    3,010,382   -   23,887   -   49,892    3,011,160 
  Federal agency debt and mortgage-backed securities (2)       359,925   -       84   +   61,367      359,932 
  Other securities (3)                                          80,704   -      378   +   10,688       80,735 
Securities lent to dealers                                      28,151   +    1,391   +   10,863       32,250 
  Overnight facility (4)                                        28,151   +    1,391   +   10,863       32,250 
    U.S. Treasury securities                                    28,151   +    1,391   +   10,863       32,250 
    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, September 4, 2019   

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                                           27            67             0             0             0           ...            93 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                      50        78,951       265,484       836,987       295,006       618,685     2,095,164 
  Weekly changes                        -   14,624    +    8,348    -    3,000    +    6,002    +    3,294    +       13    +       34 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0           486         1,861         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             9           614        77,602     1,411,381     1,489,605 
  Weekly changes                                 0             0    +        2    +      174    +      379    -      554             0 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)               872             0             0             0             0             0           872 
                                                                                                                                       
Reverse repurchase agreements (4)          302,626             0           ...           ...           ...           ...       302,626 
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   
                                                                                                                       Sep 4, 2019  

Mortgage-backed securities held outright (1)                                                                             1,489,605  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            4,692  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    6  



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        Sep 4, 2019   Wednesday    Wednesday  
                                                        consolidation                Aug 28, 2019  Sep 5, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,702   -       20   -       53  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,701,836   -      238   -  443,533  
    Securities held outright (1)                                          3,587,116   +       34   -  425,501  
      U.S. Treasury securities                                            2,095,164   +       34   -  218,038  
        Bills (2)                                                             3,001            0   +    2,901  
        Notes and bonds, nominal (2)                                      1,951,802            0   -  223,800  
        Notes and bonds, inflation-indexed (2)                              116,545            0   +      966  
        Inflation compensation (3)                                           23,816   +       34   +    1,895  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,489,605            0   -  207,401  
    Unamortized premiums on securities held outright  
    (5)                                                                     127,584   -      221   -   18,684  
    Unamortized discounts on securities held outright 
    (5)                                                                     -12,957   -       34   +      819  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        93   -       17   -      168  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,719  
  Items in process of collection                                   (0)           87   +       38   -      101  
  Bank premises                                                               2,184   -        7   +        5  
  Central bank liquidity swaps (8)                                              872   +      803   +      782  
  Foreign currency denominated assets (9)                                    20,767   -      101   -      267  
  Other assets (10)                                                          17,823   +    1,087   -    2,101  
                                                                                                               
Total assets                                                       (0)    3,761,508   +    1,562   -  446,988  

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        Sep 4, 2019   Wednesday    Wednesday  
                                                        consolidation                Aug 28, 2019  Sep 5, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,717,581   +   10,786   +   76,736 
  Reverse repurchase agreements (11)                                         302,626   +   15,906   +   72,974 
  Deposits                                                          (0)    1,696,454   -   24,691   -  596,826 
    Term deposits held by depository institutions                                  0   -    1,668            0 
    Other deposits held by depository institutions                         1,454,454   -   49,790   -  443,447 
    U.S. Treasury, General Account                                           174,779   +   24,633   -  149,658 
    Foreign official                                                           5,255   -        2   -        1 
    Other (12)                                                      (0)       61,966   +    2,135   -    3,720 
  Deferred availability cash items                                  (0)          600   +      232   -       89 
  Other liabilities and accrued dividends (13)                                 4,997   -      622   -       51 
                                                                                                               
Total liabilities                                                   (0)    3,722,258   +    1,611   -  447,256 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,425   -       49   +      268 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,250   -       49   +      268 

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, September 4, 2019
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                                             1,702          43          51          153         108         216         177         277          34          46         112         198         287
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,701,836      76,797   2,019,563       89,644     108,304     226,533     253,106     194,311      53,226      32,087      54,893     160,737     432,637
    Securities held outright (1)               3,587,116      74,419   1,957,026       86,868     104,950     219,519     245,262     188,293      51,556      31,040      53,191     155,757     419,236
      U.S. Treasury securities                 2,095,164      43,467   1,143,060       50,738      61,299     128,217     143,253     109,978      30,113      18,130      31,068      90,974     244,868
        Bills (2)                                  3,001          62       1,637           73          88         184         205         158          43          26          44         130         351
        Notes and bonds (3)                    2,092,163      43,404   1,141,423       50,665      61,211     128,033     143,048     109,820      30,070      18,104      31,023      90,844     244,517
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,489,605      30,904     812,685       36,073      43,582      91,159     101,849      78,191      21,410      12,890      22,088      64,680     174,094
    Unamortized premiums on securities held 
      outright (5)                               127,584       2,647      69,606        3,090       3,733       7,808       8,723       6,697       1,834       1,104       1,892       5,540      14,911
    Unamortized discounts on securities     
      held outright (5)                          -12,957        -269      -7,069         -314        -379        -793        -886        -680        -186        -112        -192        -563      -1,514
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             93           0           0            0           0           0           6           1          22          55           2           3           4
  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                      87           0           0            0           0           0          86           0           0           1           0           0           0
  Bank premises                                    2,184         106         456           81         116         191         205         191         103          94         228         222         190
  Central bank liquidity swaps (8)                   872          38         277           50          70         186          51          36          13           4           8          11         128
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,767         894       6,592        1,200       1,658       4,428       1,208         867         317          99         201         257       3,048
  Other assets (10)                               17,823         384       9,245          425         527       1,302       1,197         904         468         214         331         779       2,047
  Interdistrict settlement account                     0  +    9,463  -  251,978   -    7,238  +    9,555  +   25,136  +   48,514  +   29,564  +   10,495  +    7,949  +    8,521  +   32,994  +   77,023
                                                                                                                                                                                                         
Total assets                                   3,761,508      88,272   1,789,730       84,853     121,105     259,158     306,757     227,285      65,133      40,770      64,740     196,369     517,334

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, September 4, 2019 (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            1,913,501      57,482     635,580      55,059      90,801     131,460     265,448     124,488      56,218      31,271      50,335     159,277     256,082
    Less: Notes held by F.R. Banks               195,920       6,385      46,786       8,902       9,605      15,647      24,976      14,022       6,172       3,348       8,155      20,024      31,897
      Federal Reserve notes, net               1,717,581      51,096     588,793      46,156      81,196     115,813     240,472     110,465      50,046      27,923      42,181     139,253     224,185
  Reverse repurchase agreements (11)             302,626       6,278     165,104       7,329       8,854      18,520      20,691      15,885       4,350       2,619       4,487      13,140      35,369
  Deposits                                     1,696,454      28,933   1,020,541      29,650      27,599     116,132      42,797      99,118       9,963       9,316      17,523      43,225     251,656
    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                           1,454,454      28,922     822,868      29,648      27,573     115,547      42,763      55,695       9,960       9,259      17,502      43,067     251,650
    U.S. Treasury, General Account               174,779           0     174,779           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,255           2       5,228           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    61,966           9      17,666           1          23         577          32      43,421           3          57          21         157           0
  Deferred availability cash items                   600           0           0           0           0           0          96           0           0         504           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                   948          17         524          21          27          31         101          49          22          10          12          52          82
  Other liabilities and accrued             
     dividends                                     4,049         159       1,553         168         181         491         284         263         139         141         142         210         317
                                                                                                                                                                                                        
Total liabilities                              3,722,258      86,484   1,776,516      83,325     117,858     250,987     304,441     225,780      64,520      40,513      64,346     195,880     511,609
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,425       1,494      11,049       1,134       2,703       6,716       1,919       1,220         510         225         328         405       4,723
  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                  3,761,508      88,272   1,789,730      84,853     121,105     259,158     306,757     227,285      65,133      40,770      64,740     196,369     517,334

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, September 4, 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).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                           Sep 4, 2019  

Federal Reserve notes outstanding                                                            1,913,501  
  Less: Notes held by F.R. Banks not subject to collateralization                              195,920  
    Federal Reserve notes to be collateralized                                               1,717,581  
Collateral held against Federal Reserve notes                                                1,717,581  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,701,344  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,587,116  
  Less: Face value of securities under reverse repurchase agreements                           279,846  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,307,270  

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.`

Statistical releases

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