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Release Date: January 09, 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 9, 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 8, 2020
Federal Reserve Banks Jan 8, 2020 Jan 1, 2020 Jan 9, 2019
Reserve Bank credit 4,128,328 + 6,932 + 111,501 4,110,819
Securities held outright (1) 3,746,685 + 6,750 - 115,298 3,758,738
U.S. Treasury securities 2,335,662 + 6,751 + 113,212 2,347,714
Bills (2) 173,811 + 4,286 + 173,811 184,527
Notes and bonds, nominal (2) 2,009,006 + 1,448 - 74,580 2,010,350
Notes and bonds, inflation-indexed (2) 127,384 + 1,008 + 10,839 127,384
Inflation compensation (3) 25,460 + 8 + 3,141 25,453
Federal agency debt securities (2) 2,347 0 - 62 2,347
Mortgage-backed securities (4) 1,408,677 0 - 228,446 1,408,677
Unamortized premiums on securities held outright (5) 124,476 - 149 - 15,380 124,474
Unamortized discounts on securities held outright (5) -13,240 + 43 + 158 -13,278
Repurchase agreements (6) 240,958 - 1,368 + 240,958 210,587
Loans 5 - 21 - 2 2
Primary credit 3 - 12 - 4 0
Secondary credit 0 0 0 0
Seasonal credit 2 - 9 + 2 2
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0 0
Float -202 + 268 - 5 -124
Central bank liquidity swaps (8) 3,728 - 1 + 3,053 3,728
Other Federal Reserve assets (9) 25,916 + 1,408 - 1,986 26,691
Foreign currency denominated assets (10) 20,750 + 49 - 318 20,632
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,120 + 14 + 351 50,120
Total factors supplying reserve funds 4,215,440 + 6,995 + 111,535 4,197,813
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 8, 2020
Federal Reserve Banks Jan 8, 2020 Jan 1, 2020 Jan 9, 2019
Currency in circulation (11) 1,805,007 - 908 + 89,561 1,802,383
Reverse repurchase agreements (12) 278,451 - 7,358 + 16,434 274,923
Foreign official and international accounts 275,286 + 9,530 + 16,685 274,047
Others 3,165 - 16,887 - 251 876
Treasury cash holdings 172 + 1 - 43 175
Deposits with F.R. Banks, other than reserve balances 434,555 - 21,248 + 2,097 419,861
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 367,002 - 15,551 + 10,304 350,840
Foreign official 5,182 0 - 82 5,182
Other (13) 62,371 - 5,697 - 8,124 63,839
Other liabilities and capital (14) 43,168 - 1,733 - 215 43,843
Total factors, other than reserve balances,
absorbing reserve funds 2,561,354 - 31,245 + 107,836 2,541,184
Reserve balances with Federal Reserve Banks 1,654,086 + 38,240 + 3,699 1,656,629
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 8, 2020
Jan 8, 2020 Jan 1, 2020 Jan 9, 2019
Securities held in custody for foreign official and
international accounts 3,407,865 + 9,664 + 12,221 3,413,187
Marketable U.S. Treasury securities (1) 2,966,339 + 9,657 - 55,990 2,971,592
Federal agency debt and mortgage-backed securities (2) 358,876 - 28 + 51,725 358,838
Other securities (3) 82,650 + 35 + 16,485 82,756
Securities lent to dealers 34,339 - 653 + 9,864 33,790
Overnight facility (4) 34,339 - 653 + 9,864 33,790
U.S. Treasury securities 34,339 - 653 + 9,864 33,790
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 8, 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 2 0 0 0 ... 2
U.S. Treasury securities (1)
Holdings 18,271 125,491 344,202 894,850 324,301 640,599 2,347,714
Weekly changes + 10,011 + 9,802 + 2,327 - 6,122 + 2,710 + 52 + 18,781
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 1 14 1,150 73,540 1,333,972 1,408,677
Weekly changes 0 + 1 + 2 + 15 + 12 - 30 0
Repurchase agreements (4) 210,587 0 ... ... ... ... 210,587
Central bank liquidity swaps (5) 3,728 0 0 0 0 0 3,728
Reverse repurchase agreements (4) 274,923 0 ... ... ... ... 274,923
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 8, 2020
Mortgage-backed securities held outright (1) 1,408,677
Commitments to buy mortgage-backed securities (2) 6,005
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 Jan 8, 2020 Wednesday Wednesday
consolidation Jan 1, 2020 Jan 9, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,677 + 20 - 68
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,080,523 - 26,388 + 92,170
Securities held outright (1) 3,758,738 + 18,781 - 103,206
U.S. Treasury securities 2,347,714 + 18,781 + 125,302
Bills (2) 184,527 + 15,002 + 184,527
Notes and bonds, nominal (2) 2,010,350 + 3,800 - 73,236
Notes and bonds, inflation-indexed (2) 127,384 0 + 10,839
Inflation compensation (3) 25,453 - 21 + 3,172
Federal agency debt securities (2) 2,347 0 - 62
Mortgage-backed securities (4) 1,408,677 0 - 228,446
Unamortized premiums on securities held outright
(5) 124,474 - 103 - 15,315
Unamortized discounts on securities held outright
(5) -13,278 + 6 + 109
Repurchase agreements (6) 210,587 - 45,032 + 210,587
Loans 2 - 40 - 5
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0
Items in process of collection (0) 56 - 26 - 133
Bank premises 2,198 - 13 - 4
Central bank liquidity swaps (8) 3,728 0 + 3,642
Foreign currency denominated assets (9) 20,632 - 160 - 527
Other assets (10) 24,493 + 2,486 - 2,099
Total assets (0) 4,149,544 - 24,082 + 92,981
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 8, 2020 Wednesday Wednesday
consolidation Jan 1, 2020 Jan 9, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,754,110 - 5,317 + 90,090
Reverse repurchase agreements (11) 274,923 - 61,726 + 14,482
Deposits (0) 2,076,489 + 44,530 - 11,204
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,656,629 + 107,780 - 7,557
U.S. Treasury, General Account 350,840 - 53,013 + 1,397
Foreign official 5,182 0 - 63
Other (12) (0) 63,839 - 10,236 - 4,980
Deferred availability cash items (0) 179 - 546 - 191
Other liabilities and accrued dividends (13) 5,319 - 1,025 + 412
Total liabilities (0) 4,111,021 - 24,082 + 93,591
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 8, 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 1,677 42 40 148 98 224 173 279 32 49 114 196 282
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,080,523 84,655 2,226,213 98,816 119,386 249,713 278,998 214,192 58,648 35,311 60,508 177,181 476,902
Securities held outright (1) 3,758,738 77,979 2,050,657 91,024 109,971 230,021 256,996 197,301 54,023 32,525 55,736 163,209 439,294
U.S. Treasury securities 2,347,714 48,706 1,280,844 56,854 68,688 143,672 160,520 123,235 33,743 20,315 34,813 101,941 274,384
Bills (2) 184,527 3,828 100,673 4,469 5,399 11,292 12,617 9,686 2,652 1,597 2,736 8,012 21,566
Notes and bonds (3) 2,163,187 44,878 1,180,172 52,385 63,289 132,379 147,904 113,549 31,091 18,719 32,077 93,928 252,818
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,408,677 29,225 768,533 34,113 41,214 86,206 96,316 73,943 20,246 12,190 20,888 61,166 164,636
Unamortized premiums on securities held
outright (5) 124,474 2,582 67,909 3,014 3,642 7,617 8,511 6,534 1,789 1,077 1,846 5,405 14,548
Unamortized discounts on securities
held outright (5) -13,278 -275 -7,244 -322 -388 -813 -908 -697 -191 -115 -197 -577 -1,552
Repurchase agreements (6) 210,587 4,369 114,890 5,100 6,161 12,887 14,398 11,054 3,027 1,822 3,123 9,144 24,612
Loans 2 0 0 0 0 0 0 0 0 1 1 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 56 0 0 0 0 0 55 0 0 0 0 0 0
Bank premises 2,198 105 455 91 117 191 203 193 102 93 228 224 197
Central bank liquidity swaps (8) 3,728 161 1,183 215 298 795 217 156 57 18 36 46 547
Foreign currency denominated
assets (9) 20,632 888 6,549 1,192 1,647 4,399 1,200 861 315 98 200 255 3,029
Other assets (10) 24,493 524 12,919 588 729 1,731 1,661 1,260 432 275 441 1,099 2,833
Interdistrict settlement account 0 + 2,817 - 105,029 - 11,398 + 5,769 - 7,815 + 28,365 + 19,520 + 9,183 + 5,000 + 8,152 + 22,699 + 22,736
Total assets 4,149,544 89,741 2,147,855 90,191 128,812 250,404 313,085 237,596 69,245 41,119 70,124 202,872 508,499
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 8, 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 1,955,504 60,892 639,468 57,617 94,095 134,213 272,849 126,708 59,592 32,055 54,217 164,209 259,590
Less: Notes held by F.R. Banks 201,394 5,627 50,452 8,275 8,956 16,131 30,296 12,289 5,055 2,874 6,885 19,469 35,085
Federal Reserve notes, net 1,754,110 55,265 589,016 49,342 85,139 118,082 242,553 114,420 54,536 29,181 47,332 144,740 224,505
Reverse repurchase agreements (11) 274,923 5,704 149,990 6,658 8,044 16,824 18,797 14,431 3,951 2,379 4,077 11,937 32,131
Deposits 2,076,489 26,797 1,393,710 32,461 32,171 106,844 49,317 106,888 9,981 9,000 18,158 45,449 245,713
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 1,656,629 26,786 1,016,874 32,459 32,136 106,550 49,282 64,483 9,977 8,905 18,122 45,382 245,672
U.S. Treasury, General Account 350,840 0 350,840 0 0 0 0 0 0 0 0 0 0
Foreign official 5,182 2 5,155 2 3 9 2 2 1 0 0 0 6
Other (12) 63,839 9 20,842 0 31 286 33 42,403 3 95 35 66 35
Deferred availability cash items 179 0 0 0 0 0 52 0 0 127 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 1,462 22 846 29 37 41 122 75 23 11 22 80 153
Other liabilities and accrued
dividends 3,857 155 1,474 165 167 467 275 267 131 140 135 205 276
Total liabilities 4,111,021 87,942 2,135,037 88,655 125,558 242,258 311,116 236,080 68,622 40,839 69,724 202,411 502,778
Capital
Capital paid in 31,698 1,505 10,653 1,141 2,709 6,690 1,572 1,231 520 248 334 376 4,720
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 4,149,544 89,741 2,147,855 90,191 128,812 250,404 313,085 237,596 69,245 41,119 70,124 202,872 508,499
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 8, 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 8, 2020
Federal Reserve notes outstanding 1,955,504
Less: Notes held by F.R. Banks not subject to collateralization 201,394
Federal Reserve notes to be collateralized 1,754,110
Collateral held against Federal Reserve notes 1,754,110
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,737,873
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,969,325
Less: Face value of securities under reverse repurchase agreements 266,951
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,702,373
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