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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                                                   March 12, 2020


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Mar 11, 2020 
Federal Reserve Banks                                     Mar 11, 2020  Mar 4, 2020 Mar 13, 2019              

Reserve Bank credit                                         4,221,590   +   77,249   +  289,898    4,272,427  
  Securities held outright (1)                              3,890,132   +   25,125   +  104,634    3,897,224  
    U.S. Treasury securities                                2,515,940   +   25,124   +  340,483    2,523,031  
      Bills (2)                                               314,613   +   19,070   +  314,613      321,043  
      Notes and bonds, nominal (2)                          2,043,138   +    4,314   +    4,127    2,043,482  
      Notes and bonds, inflation-indexed (2)                  132,424   +    1,372   +   17,270      132,653  
      Inflation compensation (3)                               25,764   +      367   +    4,471       25,853  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,371,846   +        2   -  235,785    1,371,846  
  Unamortized premiums on securities held outright (5)        124,459   +    1,023   -   12,283      124,423  
  Unamortized discounts on securities held outright (5)       -13,394   +       83   -      199      -13,366  
  Repurchase agreements (6)                                   199,301   +   49,008   +  199,301      242,375  
  Loans                                                             8   -        4   -        3           11  
    Primary credit                                                  8   -        3   +        5           11  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 0            0   -        9            0  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0            0            0  
  Float                                                          -194   +      297   -       37         -312  
  Central bank liquidity swaps (8)                                 58   +       10   -        9           58  
  Other Federal Reserve assets (9)                             21,218   +    1,706   -    1,508       22,014  
Foreign currency denominated assets (10)                       21,187   +      532   +      552       21,147  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,211   +       14   +      372       50,211  
                                                                                                              
Total factors supplying reserve funds                       4,309,229   +   77,795   +  290,822    4,360,026  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  Mar 11, 2020 
Federal Reserve Banks                                     Mar 11, 2020  Mar 4, 2020 Mar 13, 2019              

Currency in circulation (11)                                 1,814,071   +   10,550   +   94,186    1,818,957 
Reverse repurchase agreements (12)                             228,063   -      171   -    8,851      233,275 
  Foreign official and international accounts                  226,117   +       28   -   10,679      231,950 
  Others                                                         1,946   -      199   +    1,828        1,325 
Treasury cash holdings                                             307   +       18   -       24          315 
Deposits with F.R. Banks, other than reserve balances          476,127   +   20,001   +  164,382      482,365 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               380,556   +    6,041   +  134,584      372,337 
  Foreign official                                               5,355   +      168   +      112        5,187 
  Other (13)                                                    90,217   +   13,793   +   29,688      104,842 
Other liabilities and capital (14)                              46,136   +    1,727   +      551       45,123 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,564,704   +   32,125   +  250,245    2,580,036 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,744,525   +   45,670   +   40,577    1,779,990 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements.                                                                               
7.  Refer to the note on consolidation accompanying table 5.                                                
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable. Also, includes Reserve Bank premises and equipment net of allowances for       
    depreciation.                                                                                       
10. Revalued daily at current foreign currency exchange rates.                                              
11. Estimated.                                                                                              
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
13. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
14. Includes the liability for earnings remittances due to the U.S. Treasury.                               
                                                                                                            



Sources: Federal Reserve Banks and the U.S. Department of the Treasury.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  Mar 11, 2020 
                                                          Mar 11, 2020  Mar 4, 2020 Mar 13, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,439,994   -   17,681   -   32,178    3,421,998 
  Marketable U.S. Treasury securities (1)                    2,980,070   -   18,579   -   95,997    2,961,623 
  Federal agency debt and mortgage-backed securities (2)       377,239   +      169   +   52,987      377,502 
  Other securities (3)                                          82,684   +      728   +   10,830       82,873 
Securities lent to dealers                                      33,850   +    1,528   +   10,193       33,287 
  Overnight facility (4)                                        33,850   +    1,528   +   10,193       33,287 
    U.S. Treasury securities                                    33,850   +    1,528   +   10,193       33,287 
    Federal agency debt securities                                   0            0            0            0 

Note: Components may not sum to totals because of rounding.


1.  Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS.         
    Does not include securities pledged as collateral to foreign official and international account holders
    against reverse repurchase agreements with the Federal Reserve presented in tables 1, 4, and 5.     
2.  Face value of federal agency securities and current face value of mortgage-backed securities, which     
    is the remaining principal balance of the securities.                                               
3.  Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed         
    securities, and commercial paper at face value.                                                     
4.  Face value. Fully collateralized by U.S. Treasury securities.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 11, 2020      

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans                                           11             0             0             0             0           ...            11 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  21,427       221,961       378,403       915,101       327,906       658,232     2,523,031 
  Weekly changes                        -    1,252    +    8,680    +   10,583    +      762    +    1,583    +       51    +   20,407 
Federal agency debt securities (2)                                                                                                     
  Holdings                                       0             0             0             0         1,151         1,196         2,347 
  Weekly changes                                 0             0             0             0             0             0             0 
Mortgage-backed securities (3)                                                                                                         
  Holdings                                       0             0             4         1,649        71,812     1,298,380     1,371,846 
  Weekly changes                                 0             0             0             0             0             0             0 
Repurchase agreements (4)                  242,375             0           ...           ...           ...           ...       242,375 
Central bank liquidity swaps (5)                58             0             0             0             0             0            58 
                                                                                                                                       
Reverse repurchase agreements (4)          233,275             0           ...           ...           ...           ...       233,275 
Term deposits                                    0             0             0           ...           ...           ...             0 

Note: Components may not sum to totals because of rounding.
...Not applicable.


1.  Face value. For inflation-indexed securities, includes the original face value and compensation         
    that adjusts for the effect of inflation on the original face value of such securities.             
2.  Face value.                                                                                             
3.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
4.  Cash value of agreements.                                                                               
5.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      Mar 11, 2020  

Mortgage-backed securities held outright (1)                                                                             1,371,846  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                            3,641  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                    1  



1.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
2.  Current face value. Generally settle within 180 days and include commitments associated with            
    outright transactions, dollar rolls, and coupon swaps.                                              
3.  This amount is included in other Federal Reserve assets in table 1 and in other assets in table 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Mar 11, 2020   Wednesday    Wednesday  
                                                        consolidation                 Mar 4, 2020 Mar 13, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,729   -       22   -       34  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,250,666   +   67,868   +  341,529  
    Securities held outright (1)                                          3,897,224   +   20,408   +  111,569  
      U.S. Treasury securities                                            2,523,031   +   20,407   +  347,552  
        Bills (2)                                                           321,043   +   18,001   +  321,043  
        Notes and bonds, nominal (2)                                      2,043,482   +      401   +    4,471  
        Notes and bonds, inflation-indexed (2)                              132,653   +    1,601   +   17,499  
        Inflation compensation (3)                                           25,853   +      404   +    4,539  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,371,846            0   -  235,921  
    Unamortized premiums on securities held outright  
    (5)                                                                     124,423   +       17   -   12,233  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,366   +       59   -      182  
    Repurchase agreements (6)                                               242,375   +   47,375   +  242,375  
    Loans                                                                        11   +       10            0  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0            0  
  Items in process of collection                                   (0)           59   +       17   +       11  
  Bank premises                                                               2,199   +        1   -        3  
  Central bank liquidity swaps (8)                                               58   +       10   -        9  
  Foreign currency denominated assets (9)                                    21,147   +      372   +      446  
  Other assets (10)                                                          19,815   +    2,158   -    1,590  
                                                                                                               
Total assets                                                       (0)    4,311,911   +   70,404   +  340,352  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       Mar 11, 2020   Wednesday    Wednesday  
                                                        consolidation                 Mar 4, 2020 Mar 13, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,770,786   +    8,661   +   97,205 
  Reverse repurchase agreements (11)                                         233,275   -    3,427   -    6,208 
  Deposits                                                          (0)    2,262,355   +   64,955   +  249,470 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,779,990   +   44,984   +   72,865 
    U.S. Treasury, General Account                                           372,337   -    8,965   +  133,956 
    Foreign official                                                           5,187   +        1   -       56 
    Other (12)                                                      (0)      104,842   +   28,936   +   42,707 
  Deferred availability cash items                                  (0)          371   -      299   +      152 
  Other liabilities and accrued dividends (13)                                 6,529   +      477   +      373 
                                                                                                               
Total liabilities                                                   (0)    4,273,317   +   70,368   +  340,993 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,769   +       36   -      642 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,594   +       36   -      642 

Note: Components may not sum to totals because of rounding.


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table     
    1A.                                                                                                 
2.  Face value of the securities.                                                                           
3.  Compensation that adjusts for the effect of inflation on the original face value of                     
    inflation-indexed securities.                                                                       
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the              
    remaining principal balance of the securities.                                                      
5.  Reflects the premium or discount, which is the difference between the purchase price and the face       
    value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency debt
    securities, and mortgage-backed securities, amortization is on an effective-interest basis.         
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.      
7.  Refer to the note on consolidation accompanying table 5.                                                
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used     
    when the foreign currency is returned to the foreign central bank. This exchange rate equals the    
    market exchange rate used when the foreign currency was acquired from the foreign central bank.     
9.  Revalued daily at current foreign currency exchange rates.                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other        
    accounts receivable.                                                                                
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt     
    securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations,            
    government-sponsored enterprises, designated financial market utilities, and deposits held by depository
    institutions in joint accounts in connection with their participation in certain private-sector payment
    arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, 
    for services provided by the Reserve Banks as fiscal agents of the United States.                   
13. Includes the liability for earnings remittances due to the U.S. Treasury.                               

 



5. Statement of Condition of Each Federal Reserve Bank, March 11, 2020
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 Francisco  

Assets                                                                                                                                                                                                   
  Gold certificate account                        11,037         351       3,707          327         531         754       1,560         711         328         186         292         890       1,400
  Special drawing rights certificate acct.         5,200         196       1,818          210         237         412         654         424         150          90         153         282         574
  Coin                                             1,729          40          52          162          94         235         159         292          33          53         118         196         295
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,250,666      88,185   2,319,034      102,936     124,364     260,125     290,630     223,123      61,093      36,782      63,040     184,569     496,786
    Securities held outright (1)               3,897,224      80,852   2,126,211       94,377     114,023     238,496     266,465     204,571      56,013      33,724      57,790     169,222     455,479
      U.S. Treasury securities                 2,523,031      52,343   1,376,492       61,099      73,817     154,400     172,507     132,437      36,263      21,832      37,412     109,553     294,874
        Bills (2)                                321,043       6,660     175,152        7,775       9,393      19,647      21,951      16,852       4,614       2,778       4,761      13,940      37,521
        Notes and bonds (3)                    2,201,988      45,683   1,201,340       53,325      64,425     134,754     150,557     115,585      31,648      19,054      32,652      95,613     257,352
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,371,846      28,461     748,439       33,221      40,137      83,952      93,797      72,010      19,717      11,871      20,342      59,567     160,331
    Unamortized premiums on securities held 
      outright (5)                               124,423       2,581      67,881        3,013       3,640       7,614       8,507       6,531       1,788       1,077       1,845       5,403      14,542
    Unamortized discounts on securities     
      held outright (5)                          -13,366        -277      -7,292         -324        -391        -818        -914        -702        -192        -116        -198        -580      -1,562
    Repurchase agreements (6)                    242,375       5,028     132,233        5,869       7,091      14,832      16,572      12,723       3,484       2,097       3,594      10,524      28,327
    Loans                                             11           0           0            0           1           0           0           0           0           0          10           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                      59           0           0            0           0           0          59           0           0           0           0           0           0
  Bank premises                                    2,199         104         455           95         119         191         202         191         102          92         227         223         197
  Central bank liquidity swaps (8)                    58           2          18            3           5          12           3           2           1           0           1           1           9
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   21,147         911       6,712        1,222       1,688       4,509       1,230         883         322         101         205         262       3,104
  Other assets (10)                               19,815         420      10,206          471         585       1,433       1,326       1,004         577         237         371         905       2,279
  Interdistrict settlement account                     0  +   18,052  -  189,353   +      546  +    7,765  +    4,479  +   23,420  +   40,973  +    8,919  +    5,445  +    6,972  +   29,275  +   43,508
                                                                                                                                                                                                         
Total assets                                   4,311,911     108,261   2,152,649      105,972     135,387     272,150     319,244     267,603      71,526      42,987      71,379     216,601     548,153

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, March 11, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes outstanding            1,965,527      60,867     649,947      57,218      93,647     134,240     273,969     126,617      59,302      32,042      54,062     163,543     260,072
    Less: Notes held by F.R. Banks               194,741       5,864      50,871       8,592       8,496      15,353      30,328      12,263       4,390       2,691       6,889      18,056      30,948
      Federal Reserve notes, net               1,770,786      55,002     599,076      48,627      85,151     118,887     243,642     114,354      54,912      29,352      47,173     145,487     229,125
  Reverse repurchase agreements (11)             233,275       4,840     127,268       5,649       6,825      14,276      15,950      12,245       3,353       2,019       3,459      10,129      27,264
  Deposits                                     2,262,355      46,366   1,410,463      50,073      39,851     130,169      57,276     139,104      12,462      10,833      20,130      60,232     285,395
    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                           1,779,990      46,334     997,092      50,071      39,822     128,339      57,242      72,288      12,459      10,771      20,099      60,085     285,389
    U.S. Treasury, General Account               372,337           0     372,337           0           0           0           0           0           0           0           0           0           0
    Foreign official                               5,187           2       5,159           2           3           9           2           2           1           0           0           0           6
    Other (12)                                   104,842          30      35,875           0          26       1,821          32      66,814           3          63          31         147           0
  Deferred availability cash items                   371           0           0           0           0           0          53           0           0         319           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 2,078          47       1,099          58          78         173         146          93          30          14          27          79         234
  Other liabilities and accrued             
     dividends                                     4,451         176       1,744         178         189         514         280         310         137         147         181         211         384
                                                                                                                                                                                                        
Total liabilities                              4,273,317     106,431   2,139,649     104,585     132,094     264,019     317,347     266,106      70,894      42,683      70,969     216,138     542,401
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,769       1,505      10,706       1,141       2,710       6,691       1,558       1,232         520         251         337         381       4,736
  Surplus                                          6,825         324       2,294         246         583       1,441         338         265         112          53          72          81       1,016
  Other capital                                        0           0           0           0           0           0           0           0           0           0           0           0           0
                                                                                                                                                                                                        
Total liabilities and capital                  4,311,911     108,261   2,152,649     105,972     135,387     272,150     319,244     267,603      71,526      42,987      71,379     216,601     548,153

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, March 11, 2020 (continued)


1.  Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.                                                                                                 
2.  Face value of the securities.                                                                                                                                                                           
3.  Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.                               
4.  Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.                                                               
5.  Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency     
    debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.                                                                                                    
6.  Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.                                                                                                      
7.  Refer to the note on consolidation below.                                                                                                                                                               
8.  Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals        
    the market exchange rate used when the foreign currency was acquired from the foreign central bank.                                                                                                 
9.  Revalued daily at current foreign currency exchange rates.                                                                                                                                              
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.                                                                                   
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.                                                         
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by              
    depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
    Account, for services provided by the Reserve Banks as fiscal agents of the United States.                                                                                                          
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after          
    providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.                                                                         
                                                                                                                                                                                                            


Note on consolidation:


On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the
remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan
Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they
have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the
previous page (and in table 1 and table 4), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other
liabilities in this table (and table 1 and table 4).
                                                                                                                                        



6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          Mar 11, 2020  

Federal Reserve notes outstanding                                                            1,965,527  
  Less: Notes held by F.R. Banks not subject to collateralization                              194,741  
    Federal Reserve notes to be collateralized                                               1,770,786  
Collateral held against Federal Reserve notes                                                1,770,786  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,754,550  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       4,139,599  
  Less: Face value of securities under reverse repurchase agreements                           226,126  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,913,472  

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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