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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                                                   April 18, 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  Apr 17, 2019 
Federal Reserve Banks                                     Apr 17, 2019 Apr 10, 2019 Apr 18, 2018              

Reserve Bank credit                                         3,896,274   -      629   -  452,265    3,892,955  
  Securities held outright (1)                              3,746,574   -    1,916   -  429,939    3,743,694  
    U.S. Treasury securities                                2,153,456   +       62   -  259,641    2,153,409  
      Bills (2)                                                     0            0            0            0  
      Notes and bonds, nominal (2)                          2,016,564   -       68   -  265,368    2,016,474  
      Notes and bonds, inflation-indexed (2)                  115,150   -        4   +    4,121      115,144  
      Inflation compensation (3)                               21,742   +      134   +    1,606       21,792  
    Federal agency debt securities (2)                          2,347            0   -    2,044        2,347  
    Mortgage-backed securities (4)                          1,590,771   -    1,979   -  168,254    1,587,938  
  Unamortized premiums on securities held outright (5)        135,077   -      268   -   18,886      134,913  
  Unamortized discounts on securities held outright (5)       -13,046   +       30   +      946      -13,034  
  Repurchase agreements (6)                                         0            0            0            0  
  Loans                                                            24   +       11   -       11           19  
    Primary credit                                                 10   +        6   +        5            5  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                13   +        4   -       17           15  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -    1,709            0  
  Float                                                          -208   -       29   -       33         -251  
  Central bank liquidity swaps (8)                                 55            0   -       27           55  
  Other Federal Reserve assets (9)                             27,799   +    1,545   -    2,605       27,559  
Foreign currency denominated assets (10)                       20,631   +       26   -    1,523       20,626  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             49,914   +       14   +      383       49,914  
                                                                                                              
Total factors supplying reserve funds                       3,983,060   -      589   -  453,405    3,979,736  

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 17, 2019 
Federal Reserve Banks                                     Apr 17, 2019 Apr 10, 2019 Apr 18, 2018              

Currency in circulation (11)                                 1,727,028   +      308   +   86,612    1,728,061 
Reverse repurchase agreements (12)                             251,859   -    1,815   +   11,325      255,682 
  Foreign official and international accounts                  251,730   -    1,360   +   16,324      255,667 
  Others                                                           129   -      455   -    4,999           15 
Treasury cash holdings                                             332   -        4   +       25          332 
Deposits with F.R. Banks, other than reserve balances          354,341   +   31,349   -   13,962      426,827 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               285,264   +   22,647   +   10,018      369,365 
  Foreign official                                               5,244   +        1   -       10        5,243 
  Other (13)                                                    63,833   +    8,701   -   23,970       52,219 
Other liabilities and capital (14)                              45,020   -      316   -      495       44,537 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,378,580   +   29,522   +   83,505    2,455,439 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,604,479   -   30,112   -  536,911    1,524,297 

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 17, 2019 
                                                          Apr 17, 2019 Apr 10, 2019 Apr 18, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,467,494   -    3,745   +   30,451    3,457,569 
  Marketable U.S. Treasury securities (1)                    3,062,214   -   11,458   -   20,955    3,051,262 
  Federal agency debt and mortgage-backed securities (2)       333,832   +    7,009   +   59,580      334,588 
  Other securities (3)                                          71,449   +      706   -    8,173       71,719 
Securities lent to dealers                                      21,944   -    4,608   +    4,534       24,200 
  Overnight facility (4)                                        21,944   -    4,608   +    4,534       24,200 
    U.S. Treasury securities                                    21,944   -    4,608   +    4,534       24,200 
    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, April 17, 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                                           19             0             0             0             0           ...            19 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  31,746        82,182       263,734       908,683       249,260       617,804     2,153,409 
  Weekly changes                        +   31,566    -   29,559    -    1,917    -      244    +       53    +       66    -       34 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0             0         2,347         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0            10           260        73,627     1,514,041     1,587,938 
  Weekly changes                                 0             0             0    -        2    -      384    -    4,587    -    4,974 
Repurchase agreements (4)                        0             0           ...           ...           ...           ...             0 
Central bank liquidity swaps (5)                55             0             0             0             0             0            55 
                                                                                                                                       
Reverse repurchase agreements (4)          255,682             0           ...           ...           ...           ...       255,682 
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   
                                                                                                                      Apr 17, 2019  

Mortgage-backed securities held outright (1)                                                                             1,587,938  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                              146  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    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.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Apr 17, 2019   Wednesday    Wednesday  
                                                        consolidation                Apr 10, 2019 Apr 18, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,694   -       14   -      127  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     3,865,592   -    5,349   -  448,006  
    Securities held outright (1)                                          3,743,694   -    5,008   -  430,066  
      U.S. Treasury securities                                            2,153,409   -       34   -  259,670  
        Bills (2)                                                                 0            0            0  
        Notes and bonds, nominal (2)                                      2,016,474   -      158   -  265,521  
        Notes and bonds, inflation-indexed (2)                              115,144   -       10   +    4,237  
        Inflation compensation (3)                                           21,792   +      134   +    1,615  
      Federal agency debt securities (2)                                      2,347            0   -    2,044  
      Mortgage-backed securities (4)                                      1,587,938   -    4,974   -  168,352  
    Unamortized premiums on securities held outright  
    (5)                                                                     134,913   -      370   -   18,863  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,034   +       31   +      947  
    Repurchase agreements (6)                                                     0            0            0  
    Loans                                                                        19   -        2   -       24  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -    1,710  
  Items in process of collection                                   (0)           65   +       10            0  
  Bank premises                                                               2,203   +        1   +        3  
  Central bank liquidity swaps (8)                                               55            0   -       27  
  Foreign currency denominated assets (9)                                    20,626   -       49   -    1,579  
  Other assets (10)                                                          25,356   +      444   -    2,630  
                                                                                                               
Total assets                                                       (0)    3,931,827   -    4,957   -  454,076  

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 17, 2019   Wednesday    Wednesday  
                                                        consolidation                Apr 10, 2019 Apr 18, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,680,169   -      321   +   85,353 
  Reverse repurchase agreements (11)                                         255,682   -      692   +    7,934 
  Deposits                                                          (0)    1,951,123   -    3,022   -  547,212 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,524,297   -  122,263   -  542,862 
    U.S. Treasury, General Account                                           369,365   +  123,701   +   18,422 
    Foreign official                                                           5,243   -        1   -       10 
    Other (12)                                                      (0)       52,219   -    4,457   -   22,760 
  Deferred availability cash items                                  (0)          316   +       74   -       37 
  Other liabilities and accrued dividends (13)                                 5,194   -      997   -      213 
                                                                                                               
Total liabilities                                                   (0)    3,892,485   -    4,957   -  454,173 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,517            0   +      772 
  Surplus                                                                      6,825            0   -      675 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 39,342            0   +       97 

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, April 17, 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                                             1,694          45          41          150         111         220         173         291          26          48         112         190         286
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 3,865,592      80,196   2,108,943       93,611     113,097     236,559     264,304     202,922      55,558      33,453      57,320     167,848     451,780
    Securities held outright (1)               3,743,694      77,667   2,042,450       90,660     109,531     229,101     255,968     196,512      53,807      32,395      55,513     162,556     437,536
      U.S. Treasury securities                 2,153,409      44,675   1,174,837       52,148      63,003     131,781     147,235     113,035      30,950      18,634      31,932      93,504     251,675
        Bills (2)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
        Notes and bonds (3)                    2,153,409      44,675   1,174,837       52,148      63,003     131,781     147,235     113,035      30,950      18,634      31,932      93,504     251,675
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,587,938      32,944     866,332       38,454      46,459      97,176     108,572      83,353      22,823      13,741      23,547      68,950     185,587
    Unamortized premiums on securities held 
      outright (5)                               134,913       2,799      73,605        3,267       3,947       8,256       9,224       7,082       1,939       1,167       2,001       5,858      15,768
    Unamortized discounts on securities     
      held outright (5)                          -13,034        -270      -7,111         -316        -381        -798        -891        -684        -187        -113        -193        -566      -1,523
    Repurchase agreements (6)                          0           0           0            0           0           0           0           0           0           0           0           0           0
    Loans                                             19           0           0            0           0           0           3          13           0           3           0           0           0
  Net portfolio holdings of Maiden                                                                                                                                                                       
     Lane LLC (7)                                      0           0           0            0           0           0           0           0           0           0           0           0           0
  Items in process of collection                      65           0           0            0           0           0          64           0           0           0           0           0           0
  Bank premises                                    2,203         109         458           81         119         193         208         192         105          95         230         222         192
  Central bank liquidity swaps (8)                    55           2          17            3           4          12           3           2           1           0           1           1           8
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,626         888       6,546        1,192       1,646       4,398       1,199         861         314          98         200         255       3,028
  Other assets (10)                               25,356         554      13,363          612         753       1,776       1,725       1,305         435         263         450       1,175       2,945
  Interdistrict settlement account                     0  -      692  -  107,441   +    3,129  +    3,800  -    1,041  +   20,607  -    1,045  +    6,558  +    3,712  +    3,938  +   22,873  +   45,602
                                                                                                                                                                                                         
Total assets                                   3,931,827      81,650   2,027,454       99,315     120,298     243,283     290,497     205,664      63,477      37,945      62,696     193,735     505,814

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 17, 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            1,872,721      57,544     619,937      54,345      89,570     126,540     259,238     120,873      55,651      31,318      49,651     156,598     251,457
    Less: Notes held by F.R. Banks               192,552       6,104      49,080       7,574       9,536      14,458      30,919      12,878       5,334       3,069       7,004      18,020      28,577
      Federal Reserve notes, net               1,680,169      51,440     570,857      46,771      80,034     112,081     228,319     107,995      50,317      28,249      42,647     138,578     222,880
  Reverse repurchase agreements (11)             255,682       5,304     139,493       6,192       7,481      15,647      17,482      13,421       3,675       2,212       3,791      11,102      29,882
  Deposits                                     1,951,123      23,024   1,302,454      43,885      29,427     106,640      41,976      82,286       8,720       6,880      15,708      43,301     246,821
    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                           1,524,297      23,014     910,074      43,882      29,392     106,286      41,943      48,522       8,711       6,827      15,670      43,160     246,815
    U.S. Treasury, General Account               369,365           0     369,365           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,243           2       5,216           2           3           9           2           2           1           0           0           0           6
    Other (12)                                    52,219           8      17,800           1          32         346          31      33,762           8          53          38         141           1
  Deferred availability cash items                   316           0           0           0           0           0          57           0           0         259           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,090          21         611          19          33          49         100          56          23          11          17          60          91
  Other liabilities and accrued             
     dividends                                     4,104         172       1,551         185         191         485         285         266         127         145         140         207         350
                                                                                                                                                                                                        
Total liabilities                              3,892,485      79,962   2,014,965      97,052     117,166     234,902     288,220     204,025      62,860      37,756      62,304     193,248     500,025
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,517       1,394      10,323       1,869       2,587       6,926       1,880       1,354         512         157         326         403       4,787
  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                  3,931,827      81,650   2,027,454      99,315     120,298     243,283     290,497     205,664      63,477      37,945      62,696     193,735     505,814

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 17, 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   
                                                                                          Apr 17, 2019  

Federal Reserve notes outstanding                                                            1,872,721  
  Less: Notes held by F.R. Banks not subject to collateralization                              192,552  
    Federal Reserve notes to be collateralized                                               1,680,169  
Collateral held against Federal Reserve notes                                                1,680,169  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,663,932  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,743,694  
  Less: Face value of securities under reverse repurchase agreements                           253,338  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,490,356  

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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