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Release Date: February 21, 2019
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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 February 21, 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 Feb 20, 2019
Federal Reserve Banks Feb 20, 2019 Feb 13, 2019 Feb 21, 2018
Reserve Bank credit 3,952,113 - 36,473 - 417,040 3,942,314
Securities held outright (1) 3,805,780 - 24,103 - 397,933 3,798,759
U.S. Treasury securities 2,185,562 - 20,082 - 246,509 2,182,201
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,049,429 - 19,967 - 254,074 2,046,102
Notes and bonds, inflation-indexed (2) 114,769 0 + 5,356 114,769
Inflation compensation (3) 21,364 - 115 + 2,209 21,330
Federal agency debt securities (2) 2,409 0 - 1,982 2,409
Mortgage-backed securities (4) 1,617,809 - 4,021 - 149,441 1,614,150
Unamortized premiums on securities held outright (5) 137,764 - 390 - 18,941 137,544
Unamortized discounts on securities held outright (5) -13,252 - 14 + 862 -13,250
Repurchase agreements (6) 0 0 0 0
Loans 19 - 1 - 4 23
Primary credit 5 - 1 - 2 9
Secondary credit 0 0 0 0
Seasonal credit 14 0 - 2 14
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,715 0
Float -167 - 45 - 28 -190
Central bank liquidity swaps (8) 68 - 3 + 1 68
Other Federal Reserve assets (9) 21,901 - 11,917 + 717 19,360
Foreign currency denominated assets (10) 20,733 - 63 - 1,576 20,807
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 49,860 + 14 + 420 49,860
Total factors supplying reserve funds 4,038,946 - 36,523 - 418,197 4,029,222
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 Feb 20, 2019
Federal Reserve Banks Feb 20, 2019 Feb 13, 2019 Feb 21, 2018
Currency in circulation (11) 1,710,893 + 4,767 + 91,575 1,712,038
Reverse repurchase agreements (12) 248,929 - 247 - 9,573 255,179
Foreign official and international accounts 245,120 - 2,095 + 10,761 252,904
Others 3,810 + 1,849 - 20,334 2,275
Treasury cash holdings 281 + 13 0 297
Deposits with F.R. Banks, other than reserve balances 402,219 - 23,251 + 94,137 398,025
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 333,896 - 25,213 + 119,219 331,003
Foreign official 5,244 0 - 10 5,243
Other (13) 63,079 + 1,961 - 25,072 61,779
Other liabilities and capital (14) 44,044 - 411 - 3,536 43,938
Total factors, other than reserve balances,
absorbing reserve funds 2,406,367 - 19,129 + 172,604 2,409,477
Reserve balances with Federal Reserve Banks 1,632,580 - 17,393 - 590,800 1,619,745
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 Feb 20, 2019
Feb 20, 2019 Feb 13, 2019 Feb 21, 2018
Securities held in custody for foreign official and
international accounts 3,431,887 + 5,069 + 19,436 3,437,391
Marketable U.S. Treasury securities (1) 3,036,550 + 339 - 33,152 3,043,860
Federal agency debt and mortgage-backed securities (2) 324,688 + 4,561 + 62,582 322,835
Other securities (3) 70,649 + 169 - 9,994 70,696
Securities lent to dealers 22,842 + 4,177 - 4,048 22,833
Overnight facility (4) 22,842 + 4,177 - 4,048 22,833
U.S. Treasury securities 22,842 + 4,177 - 4,048 22,833
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, February 20, 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 23 0 0 0 0 ... 23
U.S. Treasury securities (1)
Holdings 12,529 92,780 274,118 930,757 254,819 617,197 2,182,201
Weekly changes - 43,523 + 38,475 - 1,329 - 11,831 - 4,455 - 741 - 23,403
Federal agency debt securities (2)
Holdings 0 62 0 0 0 2,347 2,409
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 4 212 64,559 1,549,375 1,614,150
Weekly changes 0 0 0 - 3 - 348 - 7,455 - 7,806
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 68 0 0 0 0 0 68
Reverse repurchase agreements (4) 255,179 0 ... ... ... ... 255,179
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
Feb 20, 2019
Mortgage-backed securities held outright (1) 1,614,150
Commitments to buy mortgage-backed securities (2) 324
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 Feb 20, 2019 Wednesday Wednesday
consolidation Feb 13, 2019 Feb 21, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,798 - 11 - 136
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 3,923,075 - 31,748 - 425,213
Securities held outright (1) 3,798,759 - 31,210 - 406,996
U.S. Treasury securities 2,182,201 - 23,403 - 249,865
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,046,102 - 23,294 - 257,401
Notes and bonds, inflation-indexed (2) 114,769 0 + 5,356
Inflation compensation (3) 21,330 - 109 + 2,181
Federal agency debt securities (2) 2,409 0 - 1,982
Mortgage-backed securities (4) 1,614,150 - 7,806 - 155,148
Unamortized premiums on securities held outright
(5) 137,544 - 519 - 19,061
Unamortized discounts on securities held outright
(5) -13,250 - 24 + 855
Repurchase agreements (6) 0 0 0
Loans 23 + 5 - 10
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,710
Items in process of collection (0) 74 + 14 - 56
Bank premises 2,203 + 2 0
Central bank liquidity swaps (8) 68 - 3 + 1
Foreign currency denominated assets (9) 20,807 + 99 - 1,299
Other assets (10) 17,158 - 15,365 - 1,826
Total assets (0) 3,981,420 - 47,011 - 430,240
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 Feb 20, 2019 Wednesday Wednesday
consolidation Feb 13, 2019 Feb 21, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,664,269 + 2,383 + 89,873
Reverse repurchase agreements (11) 255,179 + 8,914 - 24,991
Deposits (0) 2,017,770 - 57,724 - 492,144
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,619,745 - 14,672 - 595,594
U.S. Treasury, General Account 331,003 - 44,116 + 122,186
Foreign official 5,243 - 1 - 12
Other (12) (0) 61,779 + 1,065 - 18,723
Deferred availability cash items (0) 264 + 59 - 45
Other liabilities and accrued dividends (13) 4,783 - 638 - 507
Total liabilities (0) 3,942,265 - 47,006 - 427,814
Capital accounts
Capital paid in 32,330 - 6 + 749
Surplus 6,825 0 - 3,175
Other capital accounts 0 0 0
Total capital 39,155 - 6 - 2,426
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, February 20, 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 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,798 48 51 156 123 236 191 294 32 47 115 201 304
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 3,923,075 74,926 2,165,829 99,049 111,220 232,158 235,488 210,119 52,229 32,744 61,758 162,218 485,337
Securities held outright (1) 3,798,759 72,552 2,097,210 95,911 107,696 224,796 228,027 203,453 50,574 31,701 59,801 157,078 469,960
U.S. Treasury securities 2,182,201 41,678 1,204,744 55,096 61,866 129,134 130,990 116,874 29,052 18,210 34,353 90,234 269,969
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,182,201 41,678 1,204,744 55,096 61,866 129,134 130,990 116,874 29,052 18,210 34,353 90,234 269,969
Federal agency debt securities (2) 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298
Mortgage-backed securities (4) 1,614,150 30,829 891,136 40,754 45,762 95,519 96,892 86,450 21,490 13,470 25,411 66,745 199,693
Unamortized premiums on securities held
outright (5) 137,544 2,627 75,935 3,473 3,899 8,139 8,256 7,367 1,831 1,148 2,165 5,687 17,016
Unamortized discounts on securities
held outright (5) -13,250 -253 -7,315 -335 -376 -784 -795 -710 -176 -111 -209 -548 -1,639
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 23 0 0 0 0 7 0 9 0 6 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 74 0 0 0 0 0 74 0 0 1 0 0 0
Bank premises 2,203 109 456 81 118 195 207 193 106 95 231 220 192
Central bank liquidity swaps (8) 68 3 21 4 5 15 4 3 1 0 1 1 10
Foreign currency denominated
assets (9) 20,807 885 6,560 1,182 1,679 4,495 1,202 882 300 95 206 258 3,062
Other assets (10) 17,158 347 8,876 424 488 1,232 1,020 888 488 174 326 814 2,078
Interdistrict settlement account 0 + 7,150 - 84,474 + 139 + 8,941 - 5,498 + 38,566 - 2,292 + 9,880 + 3,223 - 388 + 17,880 + 6,873
Total assets 3,981,420 84,029 2,102,763 101,596 123,355 234,017 278,898 211,250 63,521 36,668 62,708 182,779 499,835
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, February 20, 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 1,869,045 57,611 618,736 54,727 89,384 125,852 260,390 121,626 55,795 31,368 49,703 153,899 249,954
Less: Notes held by F.R. Banks 204,776 6,646 55,107 7,373 9,854 14,298 32,913 14,210 4,977 3,033 6,245 18,007 32,111
Federal Reserve notes, net 1,664,269 50,964 563,628 47,354 79,530 111,553 227,477 107,416 50,818 28,335 43,459 135,892 217,843
Reverse repurchase agreements (11) 255,179 4,874 140,878 6,443 7,234 15,100 15,318 13,667 3,397 2,129 4,017 10,552 31,569
Deposits 2,017,770 26,327 1,383,880 45,341 33,255 98,492 33,366 88,213 8,559 5,708 14,721 35,620 244,289
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 1,619,745 26,312 1,027,781 45,339 33,234 97,948 33,330 47,079 8,546 5,657 14,708 35,531 244,282
U.S. Treasury, General Account 331,003 0 331,003 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) 61,779 13 19,881 1 18 536 33 41,132 13 51 13 88 1
Deferred availability cash items 264 0 0 0 0 0 98 0 0 166 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 838 16 423 20 34 53 78 47 14 8 13 45 88
Other liabilities and accrued
dividends 3,945 161 1,511 175 173 466 273 269 122 137 133 198 327
Total liabilities 3,942,265 82,342 2,090,321 99,333 120,227 225,665 276,609 209,612 62,911 36,482 62,343 182,306 494,115
Capital
Capital paid in 32,330 1,394 10,277 1,868 2,583 6,896 1,892 1,354 507 154 299 388 4,718
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 3,981,420 84,029 2,102,763 101,596 123,355 234,017 278,898 211,250 63,521 36,668 62,708 182,779 499,835
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, February 20, 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
Feb 20, 2019
Federal Reserve notes outstanding 1,869,045
Less: Notes held by F.R. Banks not subject to collateralization 204,776
Federal Reserve notes to be collateralized 1,664,269
Collateral held against Federal Reserve notes 1,664,269
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,648,033
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,798,759
Less: Face value of securities under reverse repurchase agreements 255,254
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,543,506
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.
Release dates | Data Download Program (DDP) |
About |
Announcements |
Technical Q&As
Current release Other formats:
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ASCII |
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(21 KB)
Statistical releases