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Release Date: March 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 March 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 Mar 20, 2019
Federal Reserve Banks Mar 20, 2019 Mar 13, 2019 Mar 21, 2018
Reserve Bank credit 3,928,207 - 3,485 - 433,327 3,923,800
Securities held outright (1) 3,781,370 - 4,128 - 411,689 3,777,418
U.S. Treasury securities 2,175,516 + 59 - 249,148 2,175,537
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,039,011 0 - 254,874 2,039,011
Notes and bonds, inflation-indexed (2) 115,154 0 + 3,934 115,154
Inflation compensation (3) 21,351 + 58 + 1,792 21,373
Federal agency debt securities (2) 2,409 0 - 1,982 2,409
Mortgage-backed securities (4) 1,603,445 - 4,186 - 160,560 1,599,472
Unamortized premiums on securities held outright (5) 136,378 - 364 - 18,936 136,138
Unamortized discounts on securities held outright (5) -13,164 + 31 + 899 -13,153
Repurchase agreements (6) 0 0 0 0
Loans 10 - 1 - 6 11
Primary credit 1 - 2 - 4 5
Secondary credit 0 0 0 0
Seasonal credit 9 0 - 2 6
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,708 0
Float -172 - 15 - 19 -179
Central bank liquidity swaps (8) 68 + 1 - 9 68
Other Federal Reserve assets (9) 23,717 + 991 - 1,859 23,497
Foreign currency denominated assets (10) 20,702 + 67 - 1,499 20,733
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 49,881 + 14 + 395 49,881
Total factors supplying reserve funds 4,015,031 - 3,404 - 434,432 4,010,655
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 20, 2019
Federal Reserve Banks Mar 20, 2019 Mar 13, 2019 Mar 21, 2018
Currency in circulation (11) 1,720,637 + 724 + 86,484 1,722,303
Reverse repurchase agreements (12) 245,953 + 9,039 + 4,207 240,872
Foreign official and international accounts 245,044 + 8,248 + 14,004 240,255
Others 909 + 791 - 9,797 617
Treasury cash holdings 335 + 4 + 19 334
Deposits with F.R. Banks, other than reserve balances 373,692 + 61,947 - 30,493 379,062
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 303,623 + 57,651 - 12,831 314,749
Foreign official 5,244 + 1 - 10 5,244
Other (13) 64,825 + 4,296 - 17,652 59,069
Other liabilities and capital (14) 44,683 - 902 - 793 44,272
Total factors, other than reserve balances,
absorbing reserve funds 2,385,300 + 70,812 + 59,423 2,386,843
Reserve balances with Federal Reserve Banks 1,629,731 - 74,217 - 493,856 1,623,812
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 20, 2019
Mar 20, 2019 Mar 13, 2019 Mar 21, 2018
Securities held in custody for foreign official and
international accounts 3,479,384 + 7,212 + 39,349 3,476,205
Marketable U.S. Treasury securities (1) 3,082,769 + 6,702 - 14,698 3,080,163
Federal agency debt and mortgage-backed securities (2) 325,311 + 1,059 + 62,175 323,624
Other securities (3) 71,303 - 551 - 8,129 72,418
Securities lent to dealers 22,975 - 682 + 275 24,152
Overnight facility (4) 22,975 - 682 + 275 24,152
U.S. Treasury securities 22,975 - 682 + 275 24,152
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 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 11 0 0 0 0 ... 11
U.S. Treasury securities (1)
Holdings 22,379 90,458 270,527 922,080 252,492 617,602 2,175,537
Weekly changes + 22,379 - 22,379 0 + 9 + 22 + 28 + 58
Federal agency debt securities (2)
Holdings 62 0 0 0 0 2,347 2,409
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 8 207 73,619 1,525,637 1,599,472
Weekly changes 0 0 0 - 4 - 370 - 7,922 - 8,295
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 68 0 0 0 0 0 68
Reverse repurchase agreements (4) 240,872 0 ... ... ... ... 240,872
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 20, 2019
Mortgage-backed securities held outright (1) 1,599,472
Commitments to buy mortgage-backed securities (2) 276
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 Mar 20, 2019 Wednesday Wednesday
consolidation Mar 13, 2019 Mar 21, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,745 - 18 - 114
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 3,900,414 - 8,723 - 432,935
Securities held outright (1) 3,777,418 - 8,237 - 414,867
U.S. Treasury securities 2,175,537 + 58 - 249,186
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,039,011 0 - 254,874
Notes and bonds, inflation-indexed (2) 115,154 0 + 3,934
Inflation compensation (3) 21,373 + 59 + 1,755
Federal agency debt securities (2) 2,409 0 - 1,982
Mortgage-backed securities (4) 1,599,472 - 8,295 - 163,699
Unamortized premiums on securities held outright
(5) 136,138 - 518 - 18,967
Unamortized discounts on securities held outright
(5) -13,153 + 31 + 901
Repurchase agreements (6) 0 0 0
Loans 11 0 - 3
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,708
Items in process of collection (0) 55 + 7 - 33
Bank premises 2,204 + 2 + 7
Central bank liquidity swaps (8) 68 + 1 - 9
Foreign currency denominated assets (9) 20,733 + 32 - 1,430
Other assets (10) 21,294 - 111 - 2,250
Total assets (0) 3,962,748 - 8,811 - 438,474
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 20, 2019 Wednesday Wednesday
consolidation Mar 13, 2019 Mar 21, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,674,497 + 916 + 87,106
Reverse repurchase agreements (11) 240,872 + 1,389 - 8,277
Deposits (0) 2,002,873 - 10,012 - 517,289
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,623,812 - 83,313 - 511,256
U.S. Treasury, General Account 314,749 + 76,368 + 15,776
Foreign official 5,244 + 1 - 10
Other (12) (0) 59,069 - 3,066 - 21,798
Deferred availability cash items (0) 234 + 15 - 5
Other liabilities and accrued dividends (13) 4,954 - 1,202 - 156
Total liabilities (0) 3,923,431 - 8,893 - 438,620
Capital accounts
Capital paid in 32,493 + 82 + 823
Surplus 6,825 0 - 675
Other capital accounts 0 0 0
Total capital 39,318 + 82 + 148
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 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 1,745 49 47 154 114 231 177 291 29 48 111 194 300
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 3,900,414 74,494 2,153,325 98,477 110,578 230,811 234,129 208,900 51,932 32,552 61,402 161,281 482,535
Securities held outright (1) 3,777,418 72,145 2,085,428 95,372 107,091 223,533 226,746 202,310 50,290 31,523 59,466 156,195 467,320
U.S. Treasury securities 2,175,537 41,550 1,201,065 54,928 61,677 128,740 130,590 116,517 28,964 18,155 34,248 89,958 269,145
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,175,537 41,550 1,201,065 54,928 61,677 128,740 130,590 116,517 28,964 18,155 34,248 89,958 269,145
Federal agency debt securities (2) 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298
Mortgage-backed securities (4) 1,599,472 30,548 883,032 40,383 45,346 94,651 96,011 85,664 21,294 13,348 25,179 66,138 197,877
Unamortized premiums on securities held
outright (5) 136,138 2,600 75,159 3,437 3,860 8,056 8,172 7,291 1,812 1,136 2,143 5,629 16,842
Unamortized discounts on securities
held outright (5) -13,153 -251 -7,261 -332 -373 -778 -790 -704 -175 -110 -207 -544 -1,627
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 11 0 0 0 0 0 0 3 5 3 0 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 55 0 0 0 0 0 54 0 0 1 0 0 0
Bank premises 2,204 109 457 81 119 194 207 193 106 95 230 221 192
Central bank liquidity swaps (8) 68 3 21 4 5 15 4 3 1 0 1 1 10
Foreign currency denominated
assets (9) 20,733 882 6,537 1,178 1,673 4,478 1,198 879 299 95 205 257 3,051
Other assets (10) 21,294 429 11,170 530 608 1,478 1,269 1,107 549 210 399 958 2,586
Interdistrict settlement account 0 + 13,056 - 168,118 + 5,518 + 4,771 + 19,500 + 47,088 - 165 + 10,846 + 4,510 + 1,796 + 25,719 + 35,477
Total assets 3,962,748 89,581 2,008,883 106,502 118,650 257,892 286,271 212,371 64,247 37,800 64,603 189,818 526,131
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 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 1,869,688 57,469 618,950 54,511 89,426 126,032 260,191 121,117 55,615 31,247 49,551 154,693 250,887
Less: Notes held by F.R. Banks 195,190 6,053 52,434 7,280 9,339 14,080 31,394 13,511 4,852 2,968 6,593 17,199 29,489
Federal Reserve notes, net 1,674,497 51,416 566,517 47,231 80,087 111,952 228,797 107,607 50,763 28,279 42,958 137,494 221,398
Reverse repurchase agreements (11) 240,872 4,600 132,980 6,082 6,829 14,254 14,459 12,901 3,207 2,010 3,792 9,960 29,799
Deposits 2,002,873 31,694 1,294,853 50,722 28,389 122,776 40,312 89,909 9,524 7,003 17,340 41,629 268,721
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 1,623,812 31,684 953,038 50,719 28,355 122,540 40,278 53,198 9,515 6,949 17,330 41,492 268,714
U.S. Treasury, General Account 314,749 0 314,749 0 0 0 0 0 0 0 0 0 0
Foreign official 5,244 2 5,216 2 3 9 2 2 1 0 0 0 6
Other (12) 59,069 9 21,850 1 31 228 32 36,709 8 54 9 137 2
Deferred availability cash items 234 0 0 0 0 0 55 0 0 179 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 931 17 507 19 32 46 82 49 13 9 17 50 89
Other liabilities and accrued
dividends 4,023 165 1,538 185 181 483 277 267 123 134 133 200 337
Total liabilities 3,923,431 87,893 1,996,395 104,238 115,518 249,511 283,982 210,732 63,631 37,614 64,240 189,334 520,344
Capital
Capital paid in 32,493 1,394 10,323 1,869 2,587 6,925 1,892 1,354 512 154 297 400 4,785
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 3,962,748 89,581 2,008,883 106,502 118,650 257,892 286,271 212,371 64,247 37,800 64,603 189,818 526,131
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 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
Mar 20, 2019
Federal Reserve notes outstanding 1,869,688
Less: Notes held by F.R. Banks not subject to collateralization 195,190
Federal Reserve notes to be collateralized 1,674,497
Collateral held against Federal Reserve notes 1,674,497
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,658,260
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,777,418
Less: Face value of securities under reverse repurchase agreements 240,211
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,537,207
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 |
PDF
(21 KB)
Statistical releases