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Release Date: December 12, 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                                                December 12, 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  Dec 11, 2019 
Federal Reserve Banks                                     Dec 11, 2019  Dec 4, 2019 Dec 12, 2018              

Reserve Bank credit                                         4,047,230   +   27,930   -    1,353    4,056,695  
  Securities held outright (1)                              3,699,508   +   22,960   -  196,956    3,708,268  
    U.S. Treasury securities                                2,273,436   +   22,959   +   32,850    2,282,196  
      Bills (2)                                               125,161   +   17,573   +  125,161      132,020  
      Notes and bonds, nominal (2)                          1,998,305   +    4,816   -  103,491    1,998,956  
      Notes and bonds, inflation-indexed (2)                  124,829   +      457   +    8,284      125,973  
      Inflation compensation (3)                               25,140   +      111   +    2,895       25,247  
    Federal agency debt securities (2)                          2,347            0   -       62        2,347  
    Mortgage-backed securities (4)                          1,423,725   +        1   -  229,745    1,423,725  
  Unamortized premiums on securities held outright (5)        125,645   +       86   -   15,704      125,711  
  Unamortized discounts on securities held outright (5)       -13,124   -       19   +      396      -13,143  
  Repurchase agreements (6)                                   213,021   +    2,824   +  213,021      212,957  
  Loans                                                            22   +        5   -       50           18  
    Primary credit                                                 11   +        8   -       10           10  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                11   -        3   -       40            8  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Maiden Lane LLC (7)                     0            0   -        7            0  
  Float                                                          -105   +      277   +       90         -210  
  Central bank liquidity swaps (8)                                 69   +       22   -       51           69  
  Other Federal Reserve assets (9)                             22,193   +    1,774   -    2,092       23,025  
Foreign currency denominated assets (10)                       20,616   +       17   -       37       20,636  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,096   +       14   +      347       50,096  
                                                                                                              
Total factors supplying reserve funds                       4,134,183   +   27,960   -    1,043    4,143,668  

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  Dec 11, 2019 
Federal Reserve Banks                                     Dec 11, 2019  Dec 4, 2019 Dec 12, 2018              

Currency in circulation (11)                                 1,791,973   -    1,244   +   86,989    1,792,925 
Reverse repurchase agreements (12)                             266,217   -   17,500   +   28,897      262,633 
  Foreign official and international accounts                  265,686   -   17,614   +   31,581      262,028 
  Others                                                           532   +      115   -    2,683          605 
Treasury cash holdings                                             188   +        2   -       14          176 
Deposits with F.R. Banks, other than reserve balances          392,166   -   18,597   -   19,920      372,287 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                               326,865   -   20,106   -    8,102      304,160 
  Foreign official                                               5,183            0   -       71        5,182 
  Other (13)                                                    60,118   +    1,508   -   11,746       62,945 
Other liabilities and capital (14)                              44,983   -       95   -      112       44,451 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  2,495,526   -   37,436   +   95,839    2,472,472 
                                                                                                              
Reserve balances with Federal Reserve Banks                  1,638,657   +   65,396   -   96,882    1,671,196 

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  Dec 11, 2019 
                                                          Dec 11, 2019  Dec 4, 2019 Dec 12, 2018              

Securities held in custody for foreign official and       
     international accounts                                  3,405,179   -   11,743   +   20,675    3,403,025 
  Marketable U.S. Treasury securities (1)                    2,955,833   -   11,881   -   53,366    2,953,905 
  Federal agency debt and mortgage-backed securities (2)       365,724   +      424   +   57,312      365,605 
  Other securities (3)                                          83,622   -      285   +   16,729       83,515 
Securities lent to dealers                                      33,641   +    2,727   +   12,790       34,825 
  Overnight facility (4)                                        33,641   +    2,727   +   12,790       34,825 
    U.S. Treasury securities                                    33,641   +    2,727   +   12,790       34,825 
    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, December 11, 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                                           10             8             0             0             0           ...            18 
U.S. Treasury securities (1)                                                                                                           
  Holdings                                  13,623       110,472       313,901       881,601       322,136       640,463     2,282,196 
  Weekly changes                        +    5,251    -       63    +   12,819    +      360    +       79    +    3,897    +   22,343 
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         1,179        75,681     1,346,851     1,423,725 
  Weekly changes                                 0             0             0             0             0             0             0 
Repurchase agreements (4)                  137,957        75,000           ...           ...           ...           ...       212,957 
Central bank liquidity swaps (5)                69             0             0             0             0             0            69 
                                                                                                                                       
Reverse repurchase agreements (4)          262,633             0           ...           ...           ...           ...       262,633 
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   
                                                                                                                      Dec 11, 2019  

Mortgage-backed securities held outright (1)                                                                             1,423,725  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                           11,930  
Commitments to sell mortgage-backed securities (2)                                                                             179  
                                                                                                                                    
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       Dec 11, 2019   Wednesday    Wednesday  
                                                        consolidation                 Dec 4, 2019 Dec 12, 2018 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,649   +       29   -       73  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     4,033,811   +   27,461   +    9,502  
    Securities held outright (1)                                          3,708,268   +   22,343   -  188,217  
      U.S. Treasury securities                                            2,282,196   +   22,343   +   41,590  
        Bills (2)                                                           132,020   +   18,003   +  132,020  
        Notes and bonds, nominal (2)                                      1,998,956   +    2,552   -  102,840  
        Notes and bonds, inflation-indexed (2)                              125,973   +    1,601   +    9,428  
        Inflation compensation (3)                                           25,247   +      187   +    2,981  
      Federal agency debt securities (2)                                      2,347            0   -       62  
      Mortgage-backed securities (4)                                      1,423,725            0   -  229,745  
    Unamortized premiums on securities held outright  
    (5)                                                                     125,711   +      170   -   15,554  
    Unamortized discounts on securities held outright 
    (5)                                                                     -13,143   -       12   +      367  
    Repurchase agreements (6)                                               212,957   +    4,950   +  212,957  
    Loans                                                                        18   +        9   -       51  
  Net portfolio holdings of Maiden Lane LLC (7)                                   0            0   -        7  
  Items in process of collection                                   (0)           63   +       10   -       15  
  Bank premises                                                               2,192   +        1   -        3  
  Central bank liquidity swaps (8)                                               69   +       22   -       51  
  Foreign currency denominated assets (9)                                    20,636   +       32   +       24  
  Other assets (10)                                                          20,834   +    2,240   -    2,200  
                                                                                                               
Total assets                                                       (0)    4,095,491   +   29,795   +    7,177  

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       Dec 11, 2019   Wednesday    Wednesday  
                                                        consolidation                 Dec 4, 2019 Dec 12, 2018 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,744,649   -      798   +   86,792 
  Reverse repurchase agreements (11)                                         262,633   -   14,741   +   27,189 
  Deposits                                                          (0)    2,043,483   +   46,094   -  106,311 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         1,671,196   +   77,477   -   80,217 
    U.S. Treasury, General Account                                           304,160   -   34,293   -   18,503 
    Foreign official                                                           5,182   +        1   -       61 
    Other (12)                                                      (0)       62,945   +    2,909   -    7,530 
  Deferred availability cash items                                  (0)          274   -      234   -      209 
  Other liabilities and accrued dividends (13)                                 5,939   -      139   +      393 
                                                                                                               
Total liabilities                                                   (0)    4,056,979   +   30,182   +    7,856 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             31,687   -      387   -      679 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,512   -      387   -      679 

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, December 11, 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                                             1,649          39          43          147         110         215         155         276          32          45         111         190         285
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans                                 4,033,811      83,686   2,200,719       97,685     118,019     246,854     275,803     211,740      57,976      34,912      59,815     175,152     471,451
    Securities held outright (1)               3,708,268      76,932   2,023,123       89,802     108,494     226,933     253,546     194,652      53,298      32,088      54,988     161,017     433,395
      U.S. Treasury securities                 2,282,196      47,347   1,245,099       55,267      66,771     139,662     156,041     119,796      32,801      19,748      33,841      99,096     266,727
        Bills (2)                                132,020       2,739      72,026        3,197       3,863       8,079       9,027       6,930       1,897       1,142       1,958       5,732      15,430
        Notes and bonds (3)                    2,150,176      44,608   1,173,073       52,070      62,909     131,583     147,014     112,866      30,904      18,606      31,884      93,363     251,297
      Federal agency debt securities (2)           2,347          49       1,280           57          69         144         160         123          34          20          35         102         274
      Mortgage-backed securities (4)           1,423,725      29,537     776,743       34,478      41,655      87,127      97,344      74,733      20,463      12,320      21,112      61,820     166,395
    Unamortized premiums on securities held 
      outright (5)                               125,711       2,608      68,584        3,044       3,678       7,693       8,595       6,599       1,807       1,088       1,864       5,459      14,692
    Unamortized discounts on securities     
      held outright (5)                          -13,143        -273      -7,170         -318        -385        -804        -899        -690        -189        -114        -195        -571      -1,536
    Repurchase agreements (6)                    212,957       4,418     116,183        5,157       6,231      13,032      14,561      11,178       3,061       1,843       3,158       9,247      24,889
    Loans                                             18           0           0            0           0           0           0           1           0           7           0           0          10
  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                      63           0           0            0           0           0          63           0           0           0           0           0           0
  Bank premises                                    2,192         107         455           89         117         191         203         193         102          94         228         224         190
  Central bank liquidity swaps (8)                    69           3          22            4           5          15           4           3           1           0           1           1          10
  Foreign currency denominated                                                                                                                                                                           
     assets (9)                                   20,636         889       6,550        1,192       1,647       4,400       1,200         861         315          98         200         255       3,029
  Other assets (10)                               20,834         445      10,874          497         613       1,476       1,400       1,060         504         244         373         956       2,392
  Interdistrict settlement account                     0  +    6,121  -  158,652   -   14,215  +   27,024  +   23,312  +   29,668  +   18,714  +   10,485  +    4,914  +    7,566  +   24,066  +   20,997
                                                                                                                                                                                                         
Total assets                                   4,095,491      91,835   2,065,535       85,935     148,304     277,628     310,711     233,984      69,893      40,584      68,737     202,016     500,328

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, December 11, 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            1,955,359      60,613     640,472      57,458      93,950     134,193     273,101     126,687      59,730      31,504      53,906     164,138     259,605
    Less: Notes held by F.R. Banks               210,709       6,147      56,022       8,618       9,103      16,495      30,313      12,984       5,413       3,260       7,242      20,372      34,739
      Federal Reserve notes, net               1,744,649      54,466     584,450      48,840      84,847     117,698     242,788     113,703      54,317      28,244      46,665     143,765     224,866
  Reverse repurchase agreements (11)             262,633       5,449     143,285       6,360       7,684      16,072      17,957      13,786       3,775       2,273       3,894      11,404      30,695
  Deposits                                     2,043,483      29,913   1,322,427      28,976      52,268     135,086      47,533     104,635      11,006       9,396      17,600      46,099     238,545
    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                           1,671,196      29,901     990,126      28,974      52,235     134,845      47,498      65,154      10,998       9,344      17,558      46,026     238,538
    U.S. Treasury, General Account               304,160           0     304,160           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)                                    62,945          11      22,986           0          30         231          33      39,479           8          53          41          72           1
  Deferred availability cash items                   274           0           0           0           0           0          51           0           0         223           0           0           0
  Earnings remittances due to the U.S.      
     Treasury (13)                                 1,513          29         848          39          42          84         118          69          22          16          21          68         157
  Other liabilities and accrued             
     dividends                                     4,426         180       1,708         186         209         543         294         283         150         152         160         220         344
                                                                                                                                                                                                        
Total liabilities                              4,056,979      90,036   2,052,717      84,400     145,050     269,483     308,742     232,475      69,270      40,303      68,340     201,555     494,607
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 31,687       1,504      10,653       1,141       2,709       6,690       1,572       1,224         519         248         332         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                  4,095,491      91,835   2,065,535      85,935     148,304     277,628     310,711     233,984      69,893      40,584      68,737     202,016     500,328

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, December 11, 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   
                                                                                          Dec 11, 2019  

Federal Reserve notes outstanding                                                            1,955,359  
  Less: Notes held by F.R. Banks not subject to collateralization                              210,709  
    Federal Reserve notes to be collateralized                                               1,744,649  
Collateral held against Federal Reserve notes                                                1,744,649  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,728,413  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       3,921,225  
  Less: Face value of securities under reverse repurchase agreements                           258,261  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        3,662,964  

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.                                                                                                 




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