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Release Date: January 23, 2020
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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 January 23, 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 Jan 22, 2020
Federal Reserve Banks Jan 22, 2020 Jan 15, 2020 Jan 23, 2019
Reserve Bank credit 4,114,302 - 18,465 + 103,542 4,107,163
Securities held outright (1) 3,778,361 + 8,441 - 75,854 3,782,010
U.S. Treasury securities 2,373,053 + 13,959 + 152,906 2,381,020
Bills (2) 203,602 + 10,288 + 203,602 210,031
Notes and bonds, nominal (2) 2,015,974 + 4,429 - 67,612 2,017,518
Notes and bonds, inflation-indexed (2) 128,005 - 612 + 13,236 128,005
Inflation compensation (3) 25,472 - 146 + 3,681 25,467
Federal agency debt securities (2) 2,347 0 - 62 2,347
Mortgage-backed securities (4) 1,402,961 - 5,518 - 228,698 1,398,642
Unamortized premiums on securities held outright (5) 124,202 - 259 - 14,986 123,974
Unamortized discounts on securities held outright (5) -13,254 + 19 + 78 -13,272
Repurchase agreements (6) 196,617 - 27,233 + 196,617 186,076
Loans 6 + 1 - 38 0
Primary credit 6 + 2 - 34 0
Secondary credit 0 0 0 0
Seasonal credit 0 - 1 - 3 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0 0
Float -116 - 12 + 20 -158
Central bank liquidity swaps (8) 54 - 5 - 32 54
Other Federal Reserve assets (9) 28,431 + 582 - 2,265 28,480
Foreign currency denominated assets (10) 20,527 - 63 - 371 20,526
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,148 + 14 + 365 50,148
Total factors supplying reserve funds 4,201,219 - 18,513 + 103,537 4,194,078
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 Jan 22, 2020
Federal Reserve Banks Jan 22, 2020 Jan 15, 2020 Jan 23, 2019
Currency in circulation (11) 1,794,741 - 2,524 + 89,978 1,794,751
Reverse repurchase agreements (12) 262,569 - 3,878 + 5,412 265,357
Foreign official and international accounts 249,157 - 16,631 + 2,943 249,753
Others 13,412 + 12,753 + 2,468 15,604
Treasury cash holdings 191 + 14 - 46 207
Deposits with F.R. Banks, other than reserve balances 477,853 + 53,839 + 8,101 480,494
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 403,941 + 52,954 + 14,315 411,708
Foreign official 5,181 - 1 - 103 5,180
Other (13) 68,731 + 885 - 6,111 63,605
Other liabilities and capital (14) 44,175 - 853 + 278 43,676
Total factors, other than reserve balances,
absorbing reserve funds 2,579,529 + 46,598 + 103,723 2,584,484
Reserve balances with Federal Reserve Banks 1,621,689 - 65,112 - 187 1,609,594
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 Jan 22, 2020
Jan 22, 2020 Jan 15, 2020 Jan 23, 2019
Securities held in custody for foreign official and
international accounts 3,413,121 - 6,622 + 4,660 3,428,153
Marketable U.S. Treasury securities (1) 2,969,583 - 8,872 - 57,800 2,979,204
Federal agency debt and mortgage-backed securities (2) 359,906 + 1,238 + 47,805 365,247
Other securities (3) 83,632 + 1,012 + 14,656 83,701
Securities lent to dealers 28,307 - 3,322 + 7,748 28,725
Overnight facility (4) 28,307 - 3,322 + 7,748 28,725
U.S. Treasury securities 28,307 - 3,322 + 7,748 28,725
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, January 22, 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 0 0 0 0 0 ... 0
U.S. Treasury securities (1)
Holdings 23,659 126,629 369,212 902,619 315,605 643,297 2,381,020
Weekly changes + 8,792 - 4,875 + 19,614 - 5,131 - 7 - 7 + 18,385
Federal agency debt securities (2)
Holdings 0 0 0 0 1,151 1,196 2,347
Weekly changes 0 0 0 0 + 665 - 665 0
Mortgage-backed securities (3)
Holdings 0 1 14 1,235 73,118 1,324,274 1,398,642
Weekly changes 0 0 0 + 94 + 136 - 5,906 - 5,676
Repurchase agreements (4) 186,076 0 ... ... ... ... 186,076
Central bank liquidity swaps (5) 54 0 0 0 0 0 54
Reverse repurchase agreements (4) 265,357 0 ... ... ... ... 265,357
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
Jan 22, 2020
Mortgage-backed securities held outright (1) 1,398,642
Commitments to buy mortgage-backed securities (2) 3,966
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 3
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 Jan 22, 2020 Wednesday Wednesday
consolidation Jan 15, 2020 Jan 23, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,744 + 31 - 36
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,078,787 - 31,179 + 101,675
Securities held outright (1) 3,782,010 + 12,710 - 69,409
U.S. Treasury securities 2,381,020 + 18,385 + 160,905
Bills (2) 210,031 + 15,002 + 210,031
Notes and bonds, nominal (2) 2,017,518 + 3,402 - 66,068
Notes and bonds, inflation-indexed (2) 128,005 0 + 13,236
Inflation compensation (3) 25,467 - 18 + 3,707
Federal agency debt securities (2) 2,347 0 - 62
Mortgage-backed securities (4) 1,398,642 - 5,676 - 230,253
Unamortized premiums on securities held outright
(5) 123,974 - 436 - 15,022
Unamortized discounts on securities held outright
(5) -13,272 - 51 + 50
Repurchase agreements (6) 186,076 - 43,392 + 186,076
Loans 0 - 9 - 19
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0
Items in process of collection (0) 84 - 7 - 122
Bank premises 2,200 + 1 - 5
Central bank liquidity swaps (8) 54 - 5 - 32
Foreign currency denominated assets (9) 20,526 - 81 - 404
Other assets (10) 26,280 + 1,302 - 2,217
Total assets (0) 4,145,912 - 29,938 + 98,860
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 Jan 22, 2020 Wednesday Wednesday
consolidation Jan 15, 2020 Jan 23, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,746,549 - 939 + 89,468
Reverse repurchase agreements (11) 265,357 + 4,444 + 11,740
Deposits (0) 2,090,087 - 32,970 - 2,064
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,609,594 - 63,768 - 2,124
U.S. Treasury, General Account 411,708 + 30,906 + 9,481
Foreign official 5,180 - 1 - 63
Other (12) (0) 63,605 - 107 - 9,358
Deferred availability cash items (0) 242 + 90 - 189
Other liabilities and accrued dividends (13) 5,153 - 565 + 513
Total liabilities (0) 4,107,390 - 29,937 + 99,471
Capital accounts
Capital paid in 31,698 0 - 610
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 38,523 0 - 610
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, January 22, 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 1,744 41 48 153 103 231 179 286 33 50 117 202 302
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,078,787 84,619 2,225,267 98,774 119,335 249,607 278,879 214,101 58,623 35,295 60,482 177,106 476,699
Securities held outright (1) 3,782,010 78,462 2,063,354 91,587 110,652 231,445 258,588 198,523 54,357 32,727 56,081 164,219 442,014
U.S. Treasury securities 2,381,020 49,397 1,299,015 57,660 69,663 145,710 162,798 124,983 34,222 20,604 35,307 103,387 278,276
Bills (2) 210,031 4,357 114,587 5,086 6,145 12,853 14,360 11,025 3,019 1,817 3,114 9,120 24,547
Notes and bonds (3) 2,170,989 45,040 1,184,428 52,574 63,518 132,857 148,437 113,958 31,203 18,786 32,192 94,267 253,730
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,398,642 29,016 763,058 33,870 40,921 85,592 95,629 73,417 20,102 12,103 20,740 60,731 163,463
Unamortized premiums on securities held
outright (5) 123,974 2,572 67,636 3,002 3,627 7,587 8,476 6,508 1,782 1,073 1,838 5,383 14,489
Unamortized discounts on securities
held outright (5) -13,272 -275 -7,241 -321 -388 -812 -907 -697 -191 -115 -197 -576 -1,551
Repurchase agreements (6) 186,076 3,860 101,518 4,506 5,444 11,387 12,723 9,767 2,674 1,610 2,759 8,080 21,747
Loans 0 0 0 0 0 0 0 0 0 0 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 84 0 0 0 0 0 83 0 0 1 0 0 0
Bank premises 2,200 105 456 91 117 192 203 194 102 93 228 224 196
Central bank liquidity swaps (8) 54 2 17 3 4 11 3 2 1 0 1 1 8
Foreign currency denominated
assets (9) 20,526 884 6,515 1,186 1,638 4,376 1,194 857 313 98 199 254 3,013
Other assets (10) 26,280 561 13,855 629 783 1,840 1,778 1,348 460 268 480 1,244 3,033
Interdistrict settlement account 0 + 7,478 - 59,761 - 11,532 + 3,349 - 2,875 + 19,514 + 8,274 + 7,321 + 4,057 + 5,949 + 15,106 + 3,118
Total assets 4,145,912 94,238 2,191,921 89,843 126,098 254,549 304,046 226,197 67,331 40,138 67,900 195,309 488,343
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, January 22, 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 1,956,470 60,897 640,111 57,569 93,910 134,159 273,545 126,543 59,466 32,074 54,185 164,236 259,775
Less: Notes held by F.R. Banks 209,921 5,999 49,719 8,630 10,012 17,153 32,573 13,128 5,440 2,905 7,135 20,289 36,937
Federal Reserve notes, net 1,746,549 54,898 590,392 48,939 83,897 117,006 240,972 113,416 54,026 29,169 47,051 143,947 222,838
Reverse repurchase agreements (11) 265,357 5,505 144,771 6,426 7,764 16,239 18,143 13,929 3,814 2,296 3,935 11,522 31,013
Deposits 2,090,087 31,843 1,441,827 32,745 30,975 112,612 42,489 97,001 8,709 8,077 16,338 39,108 228,365
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 1,609,594 31,831 1,002,493 32,743 30,941 112,016 42,455 56,691 8,706 8,015 16,300 39,043 228,359
U.S. Treasury, General Account 411,708 0 411,708 0 0 0 0 0 0 0 0 0 0
Foreign official 5,180 2 5,153 2 3 9 2 2 1 0 0 0 6
Other (12) 63,605 10 22,473 0 30 588 31 40,308 2 62 37 64 0
Deferred availability cash items 242 0 0 0 0 0 88 0 0 155 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 1,180 10 462 184 2 66 179 71 25 4 11 85 82
Other liabilities and accrued
dividends 3,973 153 1,524 162 168 495 266 284 127 136 160 189 310
Total liabilities 4,107,390 92,409 2,178,975 88,456 122,806 246,419 302,136 224,701 66,699 39,837 67,494 194,852 482,607
Capital
Capital paid in 31,698 1,505 10,653 1,141 2,709 6,690 1,572 1,230 519 248 334 377 4,720
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 4,145,912 94,238 2,191,921 89,843 126,098 254,549 304,046 226,197 67,331 40,138 67,900 195,309 488,343
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, January 22, 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
Jan 22, 2020
Federal Reserve notes outstanding 1,956,470
Less: Notes held by F.R. Banks not subject to collateralization 209,921
Federal Reserve notes to be collateralized 1,746,549
Collateral held against Federal Reserve notes 1,746,549
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,730,313
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,968,086
Less: Face value of securities under reverse repurchase agreements 259,845
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,708,240
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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Statistical releases