FEDERAL RESERVE statistical release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks October 31, 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 Oct 30, 2019 Federal Reserve Banks Oct 30, 2019 Oct 23, 2019 Oct 31, 2018 Reserve Bank credit 3,965,939 + 32,737 - 155,350 3,980,095 Securities held outright (1) 3,612,798 + 12,408 - 349,421 3,623,600 U.S. Treasury securities 2,162,975 + 26,046 - 127,846 2,175,491 Bills (2) 40,292 + 22,503 + 40,239 51,008 Notes and bonds, nominal (2) 1,977,170 + 3,545 - 176,020 1,978,971 Notes and bonds, inflation-indexed (2) 120,993 0 + 5,414 120,993 Inflation compensation (3) 24,520 - 2 + 2,521 24,519 Federal agency debt securities (2) 2,347 0 - 62 2,347 Mortgage-backed securities (4) 1,447,476 - 13,638 - 221,513 1,445,762 Unamortized premiums on securities held outright (5) 126,759 - 635 - 16,572 126,652 Unamortized discounts on securities held outright (5) -12,701 - 115 + 850 -12,750 Repurchase agreements (6) 211,736 + 21,156 + 211,736 215,500 Loans 55 0 - 132 68 Primary credit 13 + 12 - 1 28 Secondary credit 0 0 0 0 Seasonal credit 42 - 11 - 131 39 Other credit extensions 0 0 0 0 Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 7 0 Float -249 - 148 + 103 -1,102 Central bank liquidity swaps (8) 41 - 2 - 39 41 Other Federal Reserve assets (9) 27,499 + 71 - 1,869 28,086 Foreign currency denominated assets (10) 20,638 - 72 - 73 20,660 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 5,200 0 0 5,200 Treasury currency outstanding (11) 50,081 + 14 + 360 50,081 Total factors supplying reserve funds 4,052,898 + 32,678 - 155,064 4,067,077 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 Oct 30, 2019 Federal Reserve Banks Oct 30, 2019 Oct 23, 2019 Oct 31, 2018 Currency in circulation (11) 1,776,100 + 4,514 + 84,776 1,781,082 Reverse repurchase agreements (12) 286,714 - 24,292 + 62,954 289,661 Foreign official and international accounts 286,607 - 7,392 + 65,024 289,465 Others 108 - 16,899 - 2,068 196 Treasury cash holdings 192 - 8 - 38 196 Deposits with F.R. Banks, other than reserve balances 461,311 + 18,509 + 15,199 466,800 Term deposits held by depository institutions 0 0 0 0 U.S. Treasury, General Account 389,872 + 11,887 + 16,504 400,616 Foreign official 5,187 0 - 114 5,187 Other (13) 66,252 + 6,622 - 1,191 60,998 Other liabilities and capital (14) 44,878 - 705 + 595 44,618 Total factors, other than reserve balances, absorbing reserve funds 2,569,196 - 1,981 + 163,487 2,582,359 Reserve balances with Federal Reserve Banks 1,483,702 + 34,659 - 318,550 1,484,718 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 Oct 30, 2019 Oct 30, 2019 Oct 23, 2019 Oct 31, 2018 Securities held in custody for foreign official and international accounts 3,421,661 + 2,153 + 7,206 3,429,506 Marketable U.S. Treasury securities (1) 2,976,407 + 3,744 - 66,108 2,984,180 Federal agency debt and mortgage-backed securities (2) 361,999 - 2,208 + 56,575 361,976 Other securities (3) 83,255 + 617 + 16,740 83,350 Securities lent to dealers 22,449 - 70 + 6,829 26,178 Overnight facility (4) 22,449 - 70 + 6,829 26,178 U.S. Treasury securities 22,449 - 70 + 6,829 26,178 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, October 30, 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 0 0 0 0 ... 68 U.S. Treasury securities (1) Holdings 17,783 81,959 292,006 856,122 302,405 625,215 2,175,491 Weekly changes + 2,047 + 4,764 + 15,691 + 3,802 - 1 - 1 + 26,303 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 8 911 77,106 1,367,737 1,445,762 Weekly changes 0 0 - 1 - 28 - 1,500 - 10,623 - 12,152 Repurchase agreements (4) 215,500 0 ... ... ... ... 215,500 Central bank liquidity swaps (5) 41 0 0 0 0 0 41 Reverse repurchase agreements (4) 289,661 0 ... ... ... ... 289,661 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 Oct 30, 2019 Mortgage-backed securities held outright (1) 1,445,762 Commitments to buy mortgage-backed securities (2) 7,295 Commitments to sell mortgage-backed securities (2) 0 Cash and cash equivalents (3) 2 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 Oct 30, 2019 Wednesday Wednesday consolidation Oct 23, 2019 Oct 31, 2018 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 5,200 0 0 Coin 1,674 - 6 - 63 Securities, unamortized premiums and discounts, repurchase agreements, and loans 3,953,070 + 50,806 - 118,654 Securities held outright (1) 3,623,600 + 14,151 - 318,197 U.S. Treasury securities 2,175,491 + 26,303 - 94,908 Bills (2) 51,008 + 22,503 + 50,955 Notes and bonds, nominal (2) 1,978,971 + 3,802 - 153,791 Notes and bonds, inflation-indexed (2) 120,993 0 + 5,414 Inflation compensation (3) 24,519 - 2 + 2,514 Federal agency debt securities (2) 2,347 0 - 62 Mortgage-backed securities (4) 1,445,762 - 12,152 - 223,227 Unamortized premiums on securities held outright (5) 126,652 - 537 - 16,585 Unamortized discounts on securities held outright (5) -12,750 - 117 + 790 Repurchase agreements (6) 215,500 + 37,296 + 215,500 Loans 68 + 14 - 162 Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 7 Items in process of collection (0) 54 + 4 - 92 Bank premises 2,200 + 9 - 10 Central bank liquidity swaps (8) 41 - 2 - 39 Foreign currency denominated assets (9) 20,660 - 13 + 34 Other assets (10) 25,887 + 325 - 1,077 Total assets (0) 4,019,823 + 51,123 - 119,908 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 Oct 30, 2019 Wednesday Wednesday consolidation Oct 23, 2019 Oct 31, 2018 Liabilities Federal Reserve notes, net of F.R. Bank holdings 1,732,868 + 7,848 + 84,702 Reverse repurchase agreements (11) 289,661 - 16,386 + 53,131 Deposits (0) 1,951,519 + 59,201 - 258,563 Term deposits held by depository institutions 0 0 0 Other deposits held by depository institutions 1,484,719 + 33,164 - 286,822 U.S. Treasury, General Account 400,616 + 25,446 + 34,020 Foreign official 5,187 + 1 - 70 Other (12) (0) 60,998 + 591 - 5,690 Deferred availability cash items (0) 1,156 + 979 + 134 Other liabilities and accrued dividends (13) 5,282 - 511 + 449 Total liabilities (0) 3,980,486 + 51,130 - 120,148 Capital accounts Capital paid in 32,512 - 7 + 241 Surplus 6,825 0 0 Other capital accounts 0 0 0 Total capital 39,337 - 7 + 241 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, October 30, 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 1,674 44 46 150 105 213 178 279 34 45 107 188 285 Securities, unamortized premiums and discounts, repurchase agreements, and loans 3,953,070 82,010 2,156,643 95,728 115,655 241,910 270,288 207,499 56,824 34,231 58,617 171,669 461,999 Securities held outright (1) 3,623,600 75,176 1,976,930 87,751 106,017 221,751 247,757 190,208 52,081 31,356 53,732 157,341 423,500 U.S. Treasury securities 2,175,491 45,133 1,186,884 52,683 63,649 133,132 148,745 114,195 31,268 18,825 32,259 94,462 254,256 Bills (2) 51,008 1,058 27,828 1,235 1,492 3,122 3,488 2,677 733 441 756 2,215 5,961 Notes and bonds (3) 2,124,483 44,075 1,159,056 51,448 62,157 130,011 145,257 111,517 30,534 18,384 31,503 92,248 248,294 Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274 Mortgage-backed securities (4) 1,445,762 29,994 788,765 35,011 42,299 88,475 98,851 75,890 20,779 12,511 21,438 62,777 168,970 Unamortized premiums on securities held outright (5) 126,652 2,628 69,098 3,067 3,706 7,751 8,660 6,648 1,820 1,096 1,878 5,499 14,802 Unamortized discounts on securities held outright (5) -12,750 -265 -6,956 -309 -373 -780 -872 -669 -183 -110 -189 -554 -1,490 Repurchase agreements (6) 215,500 4,471 117,570 5,219 6,305 13,188 14,734 11,312 3,097 1,865 3,196 9,357 25,186 Loans 68 0 0 0 0 0 9 0 9 24 0 25 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 54 0 0 0 0 0 53 0 0 0 0 0 0 Bank premises 2,200 108 466 84 116 190 204 193 102 94 229 223 190 Central bank liquidity swaps (8) 41 2 13 2 3 9 2 2 1 0 0 1 6 Foreign currency denominated assets (9) 20,660 890 6,557 1,194 1,649 4,405 1,201 862 315 98 200 256 3,033 Other assets (10) 25,887 554 13,641 618 766 1,822 1,750 1,325 440 280 465 1,245 2,982 Interdistrict settlement account 0 + 7,643 - 127,808 - 17,272 + 9,746 + 4,488 + 30,332 + 21,829 + 7,149 + 5,369 + 5,839 + 20,258 + 32,427 Total assets 4,019,823 91,797 2,055,083 81,041 128,809 254,203 306,223 233,124 65,342 40,394 65,902 195,011 502,895 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, October 30, 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 1,941,705 59,327 641,500 56,049 92,151 132,986 272,156 125,595 58,015 31,081 52,295 162,187 258,363 Less: Notes held by F.R. Banks 208,837 6,557 53,665 9,017 9,478 16,239 28,364 13,783 5,929 3,508 7,620 20,863 33,813 Federal Reserve notes, net 1,732,868 52,770 587,835 47,031 82,673 116,747 243,792 111,812 52,086 27,573 44,675 141,323 224,551 Reverse repurchase agreements (11) 289,661 6,009 158,031 7,015 8,475 17,726 19,805 15,205 4,163 2,507 4,295 12,577 33,854 Deposits 1,951,519 31,033 1,293,836 25,255 34,180 110,959 39,819 104,274 8,326 8,768 16,366 40,365 238,338 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 1,484,719 31,014 868,877 25,253 34,151 110,405 39,784 63,250 8,321 8,717 16,338 40,277 238,332 U.S. Treasury, General Account 400,616 0 400,616 0 0 0 0 0 0 0 0 0 0 Foreign official 5,187 2 5,159 2 3 9 2 2 1 0 0 0 6 Other (12) 60,998 17 19,184 0 27 545 33 41,022 4 51 27 87 1 Deferred availability cash items 1,156 0 0 0 0 0 47 0 0 1,109 0 0 0 Earnings remittances due to the U.S. Treasury (13) 936 15 540 22 30 26 90 37 12 8 14 51 91 Other liabilities and accrued dividends 4,346 182 1,622 182 198 572 306 287 134 150 156 216 341 Total liabilities 3,980,486 90,009 2,041,864 79,504 125,556 246,031 303,858 231,615 64,720 40,114 65,506 194,533 497,175 Capital Capital paid in 32,512 1,494 11,053 1,142 2,708 6,716 1,968 1,223 518 247 330 394 4,719 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 4,019,823 91,797 2,055,083 81,041 128,809 254,203 306,223 233,124 65,342 40,394 65,902 195,011 502,895 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, October 30, 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 Oct 30, 2019 Federal Reserve notes outstanding 1,941,705 Less: Notes held by F.R. Banks not subject to collateralization 208,837 Federal Reserve notes to be collateralized 1,732,868 Collateral held against Federal Reserve notes 1,732,868 Gold certificate account 11,037 Special drawing rights certificate account 5,200 U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,716,631 Other assets pledged 0 Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,839,100 Less: Face value of securities under reverse repurchase agreements 271,542 U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,567,559 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.