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Release Date: September 19, 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 September 19, 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 Sep 18, 2019
Federal Reserve Banks Sep 18, 2019 Sep 11, 2019 Sep 19, 2018
Reserve Bank credit 3,749,961 + 23,351 - 423,274 3,805,937
Securities held outright (1) 3,593,129 + 3,021 - 421,006 3,592,607
U.S. Treasury securities 2,102,090 + 3,934 - 211,115 2,105,826
Bills (2) 3,430 + 429 + 3,330 6,002
Notes and bonds, nominal (2) 1,956,261 + 2,058 - 219,341 1,957,404
Notes and bonds, inflation-indexed (2) 118,146 + 1,144 + 2,567 118,146
Inflation compensation (3) 24,254 + 304 + 2,329 24,274
Federal agency debt securities (2) 2,347 0 - 62 2,347
Mortgage-backed securities (4) 1,488,692 - 913 - 209,828 1,484,434
Unamortized premiums on securities held outright (5) 128,127 + 188 - 17,759 127,927
Unamortized discounts on securities held outright (5) -12,726 + 92 + 1,006 -12,746
Repurchase agreements (6) 18,307 + 18,307 + 18,307 75,000
Loans 132 + 44 - 172 87
Primary credit 55 + 54 + 15 4
Secondary credit 0 0 0 0
Seasonal credit 77 - 10 - 187 83
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,230 0
Float -128 + 41 + 33 -120
Central bank liquidity swaps (8) 39 - 1 - 61 39
Other Federal Reserve assets (9) 23,081 + 1,659 - 2,391 23,142
Foreign currency denominated assets (10) 20,660 - 55 - 384 20,652
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,053 + 14 + 374 50,053
Total factors supplying reserve funds 3,836,915 + 23,310 - 423,284 3,892,883
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 Sep 18, 2019
Federal Reserve Banks Sep 18, 2019 Sep 11, 2019 Sep 19, 2018
Currency in circulation (11) 1,762,168 - 4,133 + 77,079 1,762,755
Reverse repurchase agreements (12) 299,102 + 7,128 + 67,822 325,118
Foreign official and international accounts 294,183 + 4,169 + 66,543 306,208
Others 4,919 + 2,959 + 1,279 18,910
Treasury cash holdings 165 + 2 - 43 168
Deposits with F.R. Banks, other than reserve balances 336,427 + 83,325 - 82,624 374,915
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 250,226 + 64,884 - 85,652 303,057
Foreign official 5,225 - 31 - 31 5,186
Other (13) 80,975 + 18,471 + 3,058 66,673
Other liabilities and capital (14) 44,932 - 337 + 257 44,502
Total factors, other than reserve balances,
absorbing reserve funds 2,442,793 + 85,984 + 62,490 2,507,457
Reserve balances with Federal Reserve Banks 1,394,122 - 62,674 - 485,774 1,385,426
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.
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 Sep 18, 2019
Sep 18, 2019 Sep 11, 2019 Sep 19, 2018
Securities held in custody for foreign official and
international accounts 3,466,886 + 13,825 + 40,810 3,460,003
Marketable U.S. Treasury securities (1) 3,020,437 + 8,743 - 31,136 3,013,669
Federal agency debt and mortgage-backed securities (2) 364,830 + 4,895 + 59,390 364,563
Other securities (3) 81,619 + 187 + 12,557 81,771
Securities lent to dealers 34,019 + 135 + 18,175 34,508
Overnight facility (4) 34,019 + 135 + 18,175 34,508
U.S. Treasury securities 34,019 + 135 + 18,175 34,508
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, September 18, 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 68 19 0 0 0 ... 87
U.S. Treasury securities (1)
Holdings 12,985 66,593 269,514 837,878 297,580 621,275 2,105,826
Weekly changes + 12,935 - 12,358 + 4,027 + 6 + 26 + 21 + 4,657
Federal agency debt securities (2)
Holdings 0 0 0 0 486 1,861 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 9 661 77,051 1,406,713 1,484,434
Weekly changes 0 0 0 + 47 - 551 - 4,668 - 5,171
Repurchase agreements (4) 75,000 0 ... ... ... ... 75,000
Central bank liquidity swaps (5) 39 0 0 0 0 0 39
Reverse repurchase agreements (4) 325,118 0 ... ... ... ... 325,118
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
Sep 18, 2019
Mortgage-backed securities held outright (1) 1,484,434
Commitments to buy mortgage-backed securities (2) 4,561
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 21
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 Sep 18, 2019 Wednesday Wednesday
consolidation Sep 11, 2019 Sep 19, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,703 - 3 - 61
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 3,782,875 + 74,100 - 360,379
Securities held outright (1) 3,592,607 - 514 - 418,231
U.S. Treasury securities 2,105,826 + 4,657 - 207,380
Bills (2) 6,002 + 3,001 + 5,902
Notes and bonds, nominal (2) 1,957,404 + 1,601 - 218,198
Notes and bonds, inflation-indexed (2) 118,146 0 + 2,567
Inflation compensation (3) 24,274 + 55 + 2,349
Federal agency debt securities (2) 2,347 0 - 62
Mortgage-backed securities (4) 1,484,434 - 5,171 - 210,789
Unamortized premiums on securities held outright
(5) 127,927 - 384 - 17,767
Unamortized discounts on securities held outright
(5) -12,746 - 7 + 974
Repurchase agreements (6) 75,000 + 75,000 + 75,000
Loans 87 + 4 - 355
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 7
Items in process of collection (0) 47 + 2 - 87
Bank premises 2,189 + 5 + 7
Central bank liquidity swaps (8) 39 - 1 - 61
Foreign currency denominated assets (9) 20,652 + 29 - 397
Other assets (10) 20,953 + 891 - 2,379
Total assets (0) 3,844,695 + 75,022 - 363,364
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 Sep 18, 2019 Wednesday Wednesday
consolidation Sep 11, 2019 Sep 19, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,714,568 - 2,604 + 76,609
Reverse repurchase agreements (11) 325,118 + 30,868 + 90,782
Deposits (0) 1,760,341 + 47,356 - 530,893
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,385,426 - 73,241 - 437,292
U.S. Treasury, General Account 303,057 + 119,476 - 96,462
Foreign official 5,186 - 70 - 70
Other (12) (0) 66,673 + 1,192 + 2,932
Deferred availability cash items (0) 166 - 21 - 114
Other liabilities and accrued dividends (13) 5,207 - 618 + 15
Total liabilities (0) 3,805,400 + 74,983 - 363,602
Capital accounts
Capital paid in 32,470 + 39 + 239
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 39,295 + 39 + 239
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, September 18, 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 11,037 351 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 1,703 42 50 152 105 215 177 285 34 45 113 196 289
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 3,782,875 78,478 2,063,779 91,606 110,676 231,493 258,647 198,565 54,389 32,785 56,093 164,253 442,110
Securities held outright (1) 3,592,607 74,533 1,960,021 87,001 105,111 219,855 245,637 188,581 51,635 31,088 53,273 155,995 419,878
U.S. Treasury securities 2,105,826 43,688 1,148,877 50,996 61,611 128,869 143,982 110,538 30,266 18,222 31,226 91,437 246,114
Bills (2) 6,002 125 3,275 145 176 367 410 315 86 52 89 261 701
Notes and bonds (3) 2,099,824 43,563 1,145,603 50,851 61,436 128,502 143,571 110,223 30,180 18,170 31,137 91,177 245,412
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,484,434 30,796 809,864 35,948 43,431 90,842 101,495 77,920 21,335 12,845 22,012 64,456 173,490
Unamortized premiums on securities held
outright (5) 127,927 2,654 69,793 3,098 3,743 7,829 8,747 6,715 1,839 1,107 1,897 5,555 14,951
Unamortized discounts on securities
held outright (5) -12,746 -264 -6,954 -309 -373 -780 -871 -669 -183 -110 -189 -553 -1,490
Repurchase agreements (6) 75,000 1,556 40,918 1,816 2,194 4,590 5,128 3,937 1,078 649 1,112 3,257 8,765
Loans 87 0 0 0 1 0 6 2 21 52 1 0 5
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 47 0 0 0 0 0 46 0 0 0 0 0 0
Bank premises 2,189 107 457 82 116 191 205 193 103 94 228 223 191
Central bank liquidity swaps (8) 39 2 12 2 3 8 2 2 1 0 0 0 6
Foreign currency denominated
assets (9) 20,652 889 6,555 1,193 1,649 4,403 1,201 862 315 98 200 256 3,032
Other assets (10) 20,953 449 10,935 500 617 1,493 1,410 1,068 502 216 382 975 2,408
Interdistrict settlement account 0 + 12,375 - 183,663 - 7,620 + 8,062 + 16,035 + 43,380 + 17,455 + 7,474 + 5,158 + 5,130 + 29,852 + 46,361
Total assets 3,844,695 92,889 1,903,650 86,452 121,996 255,005 307,281 219,565 63,296 38,673 62,592 196,926 496,370
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, September 18, 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 1,923,782 57,755 639,105 55,297 91,161 131,434 269,511 124,544 56,723 31,264 50,473 160,198 256,316
Less: Notes held by F.R. Banks 209,214 6,785 49,326 9,400 10,028 16,131 29,853 14,735 6,432 3,441 8,342 20,936 33,804
Federal Reserve notes, net 1,714,568 50,970 589,778 45,897 81,133 115,303 239,659 109,809 50,291 27,822 42,131 139,262 222,512
Reverse repurchase agreements (11) 325,118 6,745 177,375 7,873 9,512 19,896 22,229 17,066 4,673 2,813 4,821 14,117 37,997
Deposits 1,760,341 33,198 1,121,083 30,946 27,884 111,089 42,621 90,862 7,565 7,503 15,091 42,793 229,707
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 1,385,426 33,185 791,817 30,943 27,858 110,784 42,586 45,799 7,562 7,448 15,062 42,680 229,701
U.S. Treasury, General Account 303,057 0 303,057 0 0 0 0 0 0 0 0 0 0
Foreign official 5,186 2 5,158 2 3 9 2 2 1 0 0 0 6
Other (12) 66,673 11 21,050 1 23 297 33 45,061 3 55 28 112 0
Deferred availability cash items 166 0 0 0 0 0 46 0 0 120 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 1,003 17 581 24 33 50 88 45 16 7 4 48 91
Other liabilities and accrued
dividends 4,204 171 1,614 175 186 494 299 277 136 147 152 216 336
Total liabilities 3,805,400 91,101 1,890,431 84,915 118,748 246,833 304,941 218,059 62,680 38,413 62,198 196,436 490,644
Capital
Capital paid in 32,470 1,494 11,053 1,143 2,703 6,716 1,943 1,221 511 227 328 405 4,724
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 3,844,695 92,889 1,903,650 86,452 121,996 255,005 307,281 219,565 63,296 38,673 62,592 196,926 496,370
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, September 18, 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
Sep 18, 2019
Federal Reserve notes outstanding 1,923,782
Less: Notes held by F.R. Banks not subject to collateralization 209,214
Federal Reserve notes to be collateralized 1,714,568
Collateral held against Federal Reserve notes 1,714,568
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,698,331
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,667,607
Less: Face value of securities under reverse repurchase agreements 309,309
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,358,298
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