FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks April 7, 2016 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 6, 2016 Federal Reserve Banks Apr 6, 2016 Mar 30, 2016 Apr 8, 2015 Reserve Bank credit 4,443,595 - 992 - 822 4,444,396 Securities held outright (1) 4,243,680 - 1,377 + 15,222 4,243,689 U.S. Treasury securities 2,461,336 + 26 + 1,685 2,461,345 Bills (2) 0 0 0 0 Notes and bonds, nominal (2) 2,341,898 - 2,620 - 4,811 2,341,898 Notes and bonds, inflation-indexed (2) 103,501 + 2,621 + 5,032 103,501 Inflation compensation (3) 15,937 + 25 + 1,464 15,946 Federal agency debt securities (2) 29,257 0 - 7,620 29,257 Mortgage-backed securities (4) 1,753,087 - 1,403 + 21,157 1,753,087 Unamortized premiums on securities held outright (5) 185,405 - 458 - 16,934 185,271 Unamortized discounts on securities held outright (5) -16,361 - 47 + 1,573 -16,349 Repurchase agreements (6) 0 0 0 0 Loans 34 - 2 - 26 37 Primary credit 7 - 16 - 35 0 Secondary credit 0 0 0 0 Seasonal credit 27 + 13 + 9 37 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,722 0 + 31 1,722 Float -276 + 124 + 211 -379 Central bank liquidity swaps (8) 146 + 98 + 146 146 Other Federal Reserve assets (9) 29,245 + 670 - 1,045 30,260 Foreign currency denominated assets (10) 20,852 + 343 + 1,044 21,015 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 47,742 + 14 + 1,046 47,742 Total factors supplying reserve funds 4,528,430 - 635 + 1,269 4,529,394 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 6, 2016 Federal Reserve Banks Apr 6, 2016 Mar 30, 2016 Apr 8, 2015 Currency in circulation (11) 1,443,949 + 2,660 + 82,693 1,445,716 Reverse repurchase agreements (12) 342,215 + 38,006 + 58,502 268,507 Foreign official and international accounts 240,969 + 5,203 + 93,394 241,052 Others 101,246 + 32,803 - 34,892 27,455 Treasury cash holdings 211 - 6 - 32 198 Deposits with F.R. Banks, other than reserve balances 302,651 - 24,614 + 230,937 301,010 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 264,323 - 20,337 + 209,117 263,537 Foreign official 5,174 - 36 - 56 5,173 Other (13) 33,154 - 4,241 + 21,877 32,301 Other liabilities and capital (14) 47,428 - 241 - 18,310 46,872 Total factors, other than reserve balances, absorbing reserve funds 2,136,454 + 15,805 + 353,790 2,062,304 Reserve balances with Federal Reserve Banks 2,391,977 - 16,440 - 352,520 2,467,091 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 and Federal agency debt securities, amortization is on a straight-line basis. For mortgage-backed securities, amortization is on an effective-interest basis. 6. Cash value of agreements. 7. Refer to table 4 and the note on consolidation accompanying table 6. 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, and designated financial market utilities. 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 6, 2016 Apr 6, 2016 Mar 30, 2016 Apr 8, 2015 Securities held in custody for foreign official and international accounts 3,257,566 - 2,876 - 32,194 3,248,774 Marketable U.S. Treasury securities (1) 2,942,833 - 3,833 - 18,706 2,933,742 Federal agency debt and mortgage-backed securities (2) 266,566 + 680 - 18,042 266,803 Other securities (3) 48,167 + 277 + 4,553 48,228 Securities lent to dealers 22,895 + 242 + 11,717 19,347 Overnight facility (4) 22,895 + 242 + 11,717 19,347 U.S. Treasury securities 22,842 + 232 + 12,038 19,302 Federal agency debt securities 53 + 11 - 320 45 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, 5, and 6. 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 6, 2016 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 0 37 0 0 0 ... 37 U.S. Treasury securities (1) Holdings 394 80,207 117,586 1,156,730 474,170 632,257 2,461,345 Weekly changes - 23,193 + 13,173 - 6 + 740 + 9,288 + 16 + 19 Federal agency debt securities (2) Holdings 2,161 2,000 11,767 10,982 0 2,347 29,257 Weekly changes + 2,161 - 2,161 0 0 0 0 0 Mortgage-backed securities (3) Holdings 0 0 0 858 8,752 1,743,477 1,753,087 Weekly changes 0 0 0 + 102 - 94 - 4 + 5 Repurchase agreements (4) 0 0 ... ... ... ... 0 Central bank liquidity swaps (5) 146 0 0 0 0 0 146 Reverse repurchase agreements (4) 268,507 0 ... ... ... ... 268,507 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 6, 2016 Mortgage-backed securities held outright (1) 1,753,087 Commitments to buy mortgage-backed securities (2) 26,886 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 7 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 5 and table 6. 4. Information on Principal Accounts of Maiden Lane LLC Millions of dollars Account name Wednesday Apr 6, 2016 Net portfolio holdings of Maiden Lane LLC (1) 1,722 Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2) 0 Accrued interest payable to the Federal Reserve Bank of New York (2) 0 Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3) 0 1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2015. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available. 2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. 3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 5 and table 6. Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest. 5. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Apr 6, 2016 Wednesday Wednesday consolidation Mar 30, 2016 Apr 8, 2015 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,873 - 3 + 43 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,412,648 - 305 - 203 Securities held outright (1) 4,243,689 + 23 + 15,189 U.S. Treasury securities 2,461,345 + 19 + 1,652 Bills (2) 0 0 0 Notes and bonds, nominal (2) 2,341,898 - 2,620 - 4,811 Notes and bonds, inflation-indexed (2) 103,501 + 2,621 + 5,032 Inflation compensation (3) 15,946 + 18 + 1,431 Federal agency debt securities (2) 29,257 0 - 7,620 Mortgage-backed securities (4) 1,753,087 + 5 + 21,157 Unamortized premiums on securities held outright (5) 185,271 - 286 - 16,971 Unamortized discounts on securities held outright (5) -16,349 - 48 + 1,574 Repurchase agreements (6) 0 0 0 Loans 37 + 5 + 5 Net portfolio holdings of Maiden Lane LLC (7) 1,722 0 + 31 Items in process of collection (0) 168 + 26 + 70 Bank premises 2,220 - 6 - 22 Central bank liquidity swaps (8) 146 + 98 + 146 Foreign currency denominated assets (9) 21,015 + 334 + 1,423 Other assets (10) 28,041 + 1,085 - 837 Total assets (0) 4,484,069 + 1,229 + 650 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Eliminations Wednesday Change since from Apr 6, 2016 Wednesday Wednesday consolidation Mar 30, 2016 Apr 8, 2015 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,400,041 + 2,399 + 81,334 Reverse repurchase agreements (11) 268,507 - 101,181 + 24,015 Deposits (0) 2,768,102 + 100,881 - 86,386 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 2,467,091 + 131,005 - 325,821 U.S. Treasury, General Account 263,537 - 28,375 + 219,283 Foreign official 5,173 + 1 - 57 Other (12) (0) 32,301 - 1,749 + 20,208 Deferred availability cash items (0) 547 - 843 - 36 Other liabilities and accrued dividends (13) 6,813 - 10 - 657 Total liabilities (0) 4,444,010 + 1,247 + 18,269 Capital accounts Capital paid in 30,059 - 18 + 1,220 Surplus 10,000 0 - 18,839 Other capital accounts 0 0 0 Total capital 40,059 - 18 - 17,619 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 and Federal agency debt securities, amortization is on a straight-line basis. For 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 table 4 and the note on consolidation accompanying table 6. 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, and designated financial market utilities. 13. Includes the liability for earnings remittances due to the U.S. Treasury. 6. Statement of Condition of Each Federal Reserve Bank, April 6, 2016 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 11,037 347 3,709 340 505 783 1,600 734 299 171 288 891 1,370 Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574 Coin 1,873 51 83 129 137 298 177 278 26 57 152 182 303 Securities, unamortized premiums and discounts, repurchase agreements, and loans 4,412,648 111,857 2,648,943 109,749 106,090 239,665 248,483 163,958 46,026 26,844 57,331 142,145 511,556 Securities held outright (1) 4,243,689 107,575 2,547,537 105,548 102,028 230,490 238,971 157,672 44,255 25,808 55,128 136,703 491,973 U.S. Treasury securities 2,461,345 62,394 1,477,575 61,218 59,177 133,684 138,603 91,450 25,668 14,969 31,974 79,288 285,345 Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Notes and bonds (3) 2,461,345 62,394 1,477,575 61,218 59,177 133,684 138,603 91,450 25,668 14,969 31,974 79,288 285,345 Federal agency debt securities (2) 29,257 742 17,563 728 703 1,589 1,648 1,087 305 178 380 942 3,392 Mortgage-backed securities (4) 1,753,087 44,440 1,052,399 43,602 42,148 95,216 98,720 65,135 18,282 10,662 22,774 56,473 203,236 Unamortized premiums on securities held outright (5) 185,271 4,697 111,220 4,608 4,454 10,063 10,433 6,884 1,932 1,127 2,407 5,968 21,479 Unamortized discounts on securities held outright (5) -16,349 -414 -9,815 -407 -393 -888 -921 -607 -170 -99 -212 -527 -1,895 Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0 Loans 37 0 0 0 0 0 0 10 10 8 9 0 0 Net portfolio holdings of Maiden Lane LLC (7) 1,722 0 1,722 0 0 0 0 0 0 0 0 0 0 Items in process of collection 168 0 0 0 0 0 166 0 0 0 0 0 0 Bank premises 2,220 122 431 74 105 209 206 202 116 91 241 225 198 Central bank liquidity swaps (8) 146 6 48 8 11 33 8 4 1 1 1 2 22 Foreign currency denominated assets (9) 21,015 929 6,936 1,156 1,600 4,686 1,167 563 216 90 210 266 3,197 Other assets (10) 28,041 749 16,306 706 688 1,708 1,604 1,062 381 200 413 943 3,280 Interdistrict settlement account 0 - 34,014 - 211,446 + 12,546 + 25,457 + 44,184 + 9,700 + 15,113 + 13,150 + 6,651 + 3,935 + 29,460 + 85,264 Total assets 4,484,069 80,243 2,468,550 124,918 134,830 291,977 263,765 182,339 60,367 34,195 62,724 174,396 605,763 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 6. Statement of Condition of Each Federal Reserve Bank, April 6, 2016 (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 1,567,605 49,206 497,834 49,241 81,821 108,499 222,681 105,684 50,780 27,167 40,051 130,296 204,345 Less: Notes held by F.R. Banks 167,564 5,210 58,249 5,646 8,741 11,164 22,632 10,209 4,762 2,414 4,660 12,358 21,519 Federal Reserve notes, net 1,400,041 43,997 439,585 43,595 73,080 97,335 200,049 95,475 46,018 24,754 35,390 117,938 182,826 Reverse repurchase agreements (11) 268,507 6,807 161,188 6,678 6,456 14,584 15,120 9,976 2,800 1,633 3,488 8,649 31,128 Deposits 2,768,102 27,481 1,851,223 72,249 52,031 170,597 45,838 75,070 10,977 7,067 23,313 47,045 385,211 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 2,467,091 27,476 1,557,500 72,247 52,028 170,311 45,829 68,111 10,968 7,067 23,312 47,043 385,200 U.S. Treasury, General Account 263,537 0 263,537 0 0 0 0 0 0 0 0 0 0 Foreign official 5,173 2 5,146 2 3 9 2 1 0 0 0 1 6 Other (12) 32,301 3 25,040 0 0 277 7 6,958 9 0 1 1 5 Deferred availability cash items 547 0 0 0 0 0 116 0 0 431 0 0 0 Earnings remittances due to the U.S. Treasury (13) 2,327 72 1,295 65 75 190 144 81 30 12 25 66 271 Other liabilities and accrued dividends 4,487 140 2,139 174 175 466 291 233 128 129 112 188 312 Total liabilities 4,444,010 78,497 2,455,429 122,762 131,817 283,172 261,558 180,834 59,952 34,025 62,329 173,887 599,748 Capital Capital paid in 30,059 1,305 9,822 1,606 2,252 6,575 1,652 1,237 312 127 295 383 4,494 Surplus 10,000 442 3,299 550 762 2,230 555 268 103 43 100 127 1,521 Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0 Total liabilities and capital 4,484,069 80,243 2,468,550 124,918 134,830 291,977 263,765 182,339 60,367 34,195 62,724 174,396 605,763 Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 6. Statement of Condition of Each Federal Reserve Bank, April 6, 2016 (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 and Federal agency debt securities, amortization is on a straight-line basis. For 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 table 4 and 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, and designated financial market utilities. 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 $10 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. 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 5), 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 5). 7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Apr 6, 2016 Federal Reserve notes outstanding 1,567,605 Less: Notes held by F.R. Banks not subject to collateralization 167,564 Federal Reserve notes to be collateralized 1,400,041 Collateral held against Federal Reserve notes 1,400,041 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,383,804 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,243,689 Less: Face value of securities under reverse repurchase agreements 249,407 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,994,282 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.