Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: Thursday, June 8, 2017
Release dates | Data Download Program (DDP) | About | Announcements | Technical Q&As
Current release  Other formats: Screen reader | ASCII | PDF (21 KB)
Try data download now image link

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

June 8, 2017

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Jun 7, 2017

Week ended
Jun 7, 2017

Change from week ended

May 31, 2017

Jun 8, 2016

Reserve Bank credit

4,422,274

+    1,292

-      734

4,423,005

Securities held outright1

4,244,543

+       76

+   14,519

4,244,575

U.S. Treasury securities

2,464,751

+       73

+    2,904

2,464,783

Bills2

         0

         0

         0

         0

Notes and bonds, nominal2

2,338,216

-    1,135

-    1,070

2,338,216

Notes and bonds, inflation-indexed2

   108,126

+    1,134

+    2,187

   108,126

Inflation compensation3

    18,408

+       73

+    1,787

    18,440

Federal agency debt securities2

     8,834

         0

-   16,262

     8,834

Mortgage-backed securities4

1,770,958

+        3

+   27,877

1,770,958

Unamortized premiums on securities held outright5

   166,907

-      262

-   14,987

   166,822

Unamortized discounts on securities held outright5

   -14,838

-        6

+    1,201

   -14,827

Repurchase agreements6

         0

         0

         0

         0

Loans

        65

+       10

-       28

        69

Primary credit

         3

-        2

-        1

         3

Secondary credit

         0

         0

         0

         0

Seasonal credit

        62

+       12

-       27

        66

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Maiden Lane LLC7

     1,709

-        1

-        4

     1,709

Float

      -332

+      189

-      193

      -512

Central bank liquidity swaps8

        40

+        4

+       40

        40

Other Federal Reserve assets9

    24,178

+    1,279

-    1,285

    25,131

Foreign currency denominated assets10

    20,767

+      145

-      330

    20,794

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    48,907

+       14

+      959

    48,907

Total factors supplying reserve funds

4,508,189

+    1,451

-      105

4,508,948

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
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Jun 7, 2017

Week ended
Jun 7, 2017

Change from week ended

May 31, 2017

Jun 8, 2016

Currency in circulation11

1,555,572

+      658

+   97,237

1,556,333

Reverse repurchase agreements12

   399,658

-   30,115

+  105,414

   399,729

Foreign official and international accounts

   233,153

-   16,070

-    6,487

   234,591

Others

   166,505

-   14,046

+  111,901

   165,138

Treasury cash holdings

       230

-       13

+      121

       224

Deposits with F.R. Banks, other than reserve balances

   231,958

-   20,380

-   45,504

   233,624

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   152,444

-   18,540

-   83,907

   154,760

Foreign official

     5,226

-       76

+       33

     5,361

Other13

    74,288

-    1,765

+   38,370

    73,503

Other liabilities and capital14

    48,463

+      622

-       43

    48,193

Total factors, other than reserve balances,
absorbing reserve funds

2,235,881

-   49,229

+  157,226

2,238,103

Reserve balances with Federal Reserve Banks

2,272,308

+   50,680

-  157,331

2,270,846

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 table 4 and the note on consolidation accompanying table 6.

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, and designated financial market utilities.  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
Jun 7, 2017

Week ended
Jun 7, 2017

Change from week ended

May 31, 2017

Jun 8, 2016

Securities held in custody for foreign official and international accounts

3,258,503

+   20,980

+   17,016

3,257,067

Marketable U.S. Treasury securities1

2,934,266

+   20,548

+    7,997

2,932,774

Federal agency debt and mortgage-backed securities2

   262,893

+      285

-    2,372

   262,689

Other securities3

    61,344

+      148

+   11,391

    61,604

Securities lent to dealers

    25,212

+    3,038

+    4,873

    24,526

Overnight facility4

    25,212

+    3,038

+    4,873

    24,526

U.S. Treasury securities

    25,202

+    3,039

+    4,879

    24,519

Federal agency debt securities

         9

-        2

-        7

         7

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, 5, and 6.

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, June 7, 2017

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans

         6

        63

         0

         0

         0

...

        69

U.S. Treasury securities1

Holdings

         0

    47,806

   256,062

1,174,333

   353,787

   632,794

2,464,783

Weekly changes

         0

+    3,198

-    3,195

+       13

+       19

+       51

+       87

Federal agency debt securities2

Holdings

       737

     1,340

     2,366

     2,044

         0

     2,347

     8,834

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities3

Holdings

         0

         0

         0

       581

    11,228

1,759,148

1,770,958

Weekly changes

         0

         0

         0

+       21

+       84

-      106

         0

Repurchase agreements4

         0

         0

...

...

...

...

         0

Central bank liquidity swaps5

        40

         0

         0

         0

         0

         0

        40

Reverse repurchase agreements4

   399,729

         0

...

...

...

...

   399,729

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

Jun 7, 2017

Mortgage-backed securities held outright1

1,770,958

Commitments to buy mortgage-backed securities2

    29,738

Commitments to sell mortgage-backed securities2

        20

Cash and cash equivalents3

         5

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 5 and table 6.


4. Information on Principal Accounts of Maiden Lane LLC

Millions of dollars

Account name

Wednesday

Jun 7, 2017

Net portfolio holdings of Maiden Lane LLC1

     1,709

Outstanding principal amount of loan extended by the Federal Reserve Bank of New York2

         0

Accrued interest payable to the Federal Reserve Bank of New York2

         0

Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co.3

         0

1.

Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of March 31, 2017. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.

2.

Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6.

3.

Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 5 and table 6.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. The remaining outstanding balances of the senior loan from FRBNY to Maiden Lane LLC, and the subordinated loan from JPMorgan Chase & Co. to Maiden Lane LLC were repaid in full, with interest.


5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Jun 7, 2017

Change since

Wednesday

Wednesday

May 31, 2017

Jun 8, 2016

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,809

+       18

-       30

Securities, unamortized premiums and discounts, repurchase agreements, and loans

4,396,638

-      142

+      709

Securities held outright1

4,244,575

+       88

+   14,502

U.S. Treasury securities

2,464,783

+       87

+    2,886

Bills2

         0

         0

         0

Notes and bonds, nominal2

2,338,216

         0

-    1,070

Notes and bonds, inflation-indexed2

   108,126

         0

+    2,187

Inflation compensation3

    18,440

+       87

+    1,769

Federal agency debt securities2

     8,834

         0

-   16,262

Mortgage-backed securities4

1,770,958

         0

+   27,877

Unamortized premiums on securities held outright5

   166,822

-      260

-   14,968

Unamortized discounts on securities held outright5

   -14,827

+       29

+    1,201

Repurchase agreements6

         0

         0

         0

Loans

        69

+        2

-       25

Net portfolio holdings of Maiden Lane LLC7

     1,709

         0

-        4

Items in process of collection

(0)

        84

-       15

-       82

Bank premises

     2,195

-       14

-       19

Central bank liquidity swaps8

        40

+        5

+       40

Foreign currency denominated assets9

    20,794

+       77

-      423

Other assets10

    22,935

+    2,598

-    1,293

Total assets

(0)

4,462,443

+    2,529

-    1,099

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Jun 7, 2017

Change since

Wednesday

Wednesday

May 31, 2017

Jun 8, 2016

Liabilities

Federal Reserve notes, net of F.R. Bank holdings

1,509,455

-      170

+   96,996

Reverse repurchase agreements11

   399,729

-  102,430

+  114,694

Deposits

(0)

2,504,469

+  104,536

-  213,488

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

2,270,846

+  141,240

-  177,972

U.S. Treasury, General Account

   154,760

-   35,071

-   70,356

Foreign official

     5,361

+      183

+      166

Other12

(0)

    73,503

-    1,814

+   34,675

Deferred availability cash items

(0)

       597

-      543

+      305

Other liabilities and accrued dividends13

     7,385

+    1,134

-      319

Total liabilities

(0)

4,421,635

+    2,527

-    1,812

Capital accounts

Capital paid in

    30,808

+        2

+      713

Surplus

    10,000

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    40,808

+        2

+      713

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 table 4 and the note on consolidation accompanying table 6.

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, and designated financial market utilities.  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.


6. Statement of Condition of Each Federal Reserve Bank, June 7, 2017

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

       349

     3,592

       348

       553

       776

     1,520

       737

       341

       191

       292

       916

     1,422

Special drawing rights certificate acct.

     5,200

       196

     1,818

       210

       237

       412

       654

       424

       150

        90

       153

       282

       574

Coin

     1,809

        46

        51

       170

       128

       277

       187

       282

        24

        53

       113

       184

       295

Securities, unamortized premiums and discounts, repurchase agreements,
and loans

4,396,638

    85,661

2,475,672

   113,517

   127,497

   257,597

   258,802

   184,935

    58,646

    34,299

    62,357

   176,008

   561,646

Securities held outright1

4,244,575

    82,700

2,390,085

   109,593

   123,089

   248,692

   249,851

   178,521

    56,600

    33,093

    60,198

   169,923

   542,229

U.S. Treasury securities

2,464,783

    48,023

1,387,899

    63,640

    71,476

   144,413

   145,086

   103,666

    32,867

    19,217

    34,956

    98,673

   314,867

Bills2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Notes and bonds3

2,464,783

    48,023

1,387,899

    63,640

    71,476

   144,413

   145,086

   103,666

    32,867

    19,217

    34,956

    98,673

   314,867

Federal agency debt securities2

     8,834

       172

     4,974

       228

       256

       518

       520

       372

       118

        69

       125

       354

     1,129

Mortgage-backed securities4

1,770,958

    34,505

   997,212

    45,725

    51,356

   103,761

   104,245

    74,484

    23,615

    13,807

    25,116

    70,897

   226,233

Unamortized premiums on securities held outright5

   166,822

     3,250

    93,936

     4,307

     4,838

     9,774

     9,820

     7,016

     2,225

     1,301

     2,366

     6,678

    21,311

Unamortized discounts on securities held outright5

   -14,827

      -289

    -8,349

      -383

      -430

      -869

      -873

      -624

      -198

      -116

      -210

      -594

    -1,894

Repurchase agreements6

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Loans

        69

         0

         0

         0

         0

         0

         4

        21

        18

        21

         4

         0

         1

Net portfolio holdings of Maiden

Lane LLC7

     1,709

         0

     1,709

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Items in process of collection

        84

         0

         0

         0

         0

         0

        84

         0

         0

         0

         0

         0

         0

Bank premises

     2,195

       119

       441

        71

       112

       201

       203

       199

       111

        88

       236

       220

       193

Central bank liquidity swaps8

        40

         2

        13

         2

         3

         9

         2

         2

         0

         0

         0

         1

         6

Foreign currency denominated

assets9

    20,794

       901

     6,660

     1,118

     1,694

     4,493

     1,213

       870

       227

        88

       202

       266

     3,062

Other assets10

    22,935

       486

    12,384

       587

       667

     1,522

     1,371

       966

       521

       197

       384

       941

     2,909

Interdistrict settlement account

         0

+    1,657

-   77,079

-    3,926

-      286

+    9,329

-    2,334

+   53,448

+      912

+    2,065

+    6,820

+    6,743

+    2,651

Total assets

4,462,443

    89,417

2,425,262

   112,098

   130,604

   274,617

   261,702

   241,864

    60,932

    37,072

    70,558

   185,560

   572,757

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


6. Statement of Condition of Each Federal Reserve Bank, June 7, 2017 (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

1,678,764

    56,950

   525,144

    55,796

    85,679

   122,282

   223,028

   116,149

    52,561

    31,411

    48,810

   142,966

   217,987

Less: Notes held by F.R. Banks

   169,309

     5,543

    43,374

     7,583

     9,946

    12,186

    25,936

    10,808

     5,335

     2,700

     5,545

    16,078

    24,276

Federal Reserve notes, net

1,509,455

    51,407

   481,771

    48,214

    75,733

   110,096

   197,092

   105,341

    47,226

    28,712

    43,266

   126,887

   193,711

Reverse repurchase agreements11

   399,729

     7,788

   225,084

    10,321

    11,592

    23,420

    23,530

    16,812

     5,330

     3,116

     5,669

    16,002

    51,064

Deposits

2,504,469

    28,259

1,701,626

    51,102

    39,659

   131,604

    38,192

   117,588

     7,753

     4,407

    21,063

    41,869

   321,346

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

2,270,846

    28,255

1,524,679

    51,100

    39,656

   131,359

    38,184

    61,193

     7,745

     4,407

    21,062

    41,868

   321,339

U.S. Treasury, General Account

   154,760

         0

   154,760

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,361

         2

     5,334

         2

         3

         9

         2

         2

         0

         0

         0

         1

         6

Other12

    73,503

         3

    16,853

         0

         0

       236

         6

    56,394

         8

         0

         1

         0

         1

Deferred availability cash items

       597

         0

         0

         0

         0

         0

        80

         0

         0

       517

         0

         0

         0

Earnings remittances due to the U.S. Treasury13

     1,879

        41

     1,039

        50

        62

       111

       123

        71

        26

        15

        25

        80

       235

Other liabilities and accrued
dividends

     5,507

       168

     2,722

       201

       209

       530

       328

       297

       142

       134

       133

       209

       433

Total liabilities

4,421,635

    87,663

2,412,241

   109,888

   127,255

   265,761

   259,345

   240,109

    60,478

    36,901

    70,156

   185,047

   566,790

Capital

Capital paid in

    30,808

     1,321

     9,819

     1,672

     2,535

     6,694

     1,773

     1,336

       345

       129

       304

       385

     4,495

Surplus

    10,000

       434

     3,202

       538

       815

     2,161

       583

       419

       109

        42

        97

       128

     1,473

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

4,462,443

    89,417

2,425,262

   112,098

   130,604

   274,617

   261,702

   241,864

    60,932

    37,072

    70,558

   185,560

   572,757

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


6. Statement of Condition of Each Federal Reserve Bank, June 7, 2017 (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 table 4 and 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, and designated financial market utilities.  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 $10 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. 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 5), 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 5).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Jun 7, 2017

Federal Reserve notes outstanding

1,678,764

Less: Notes held by F.R. Banks not subject to collateralization

   169,309

Federal Reserve notes to be collateralized

1,509,455

Collateral held against Federal Reserve notes

1,509,455

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

1,493,218

Other assets pledged

         0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

4,244,575

Less: Face value of securities under reverse repurchase agreements

   387,997

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

3,856,578

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: Screen reader | ASCII | PDF (21 KB)

Statistical releases