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Release Date: December 19, 2019
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FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks December 19, 2019
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Dec 18, 2019
Federal Reserve Banks Dec 18, 2019 Dec 11, 2019 Dec 19, 2018
Reserve Bank credit 4,087,593 + 40,363 + 39,488 4,098,408
Securities held outright (1) 3,715,908 + 16,400 - 178,555 3,725,461
U.S. Treasury securities 2,287,247 + 13,811 + 46,606 2,300,678
Bills (2) 136,306 + 11,145 + 136,306 147,022
Notes and bonds, nominal (2) 1,999,671 + 1,366 - 102,125 2,002,358
Notes and bonds, inflation-indexed (2) 125,973 + 1,144 + 9,428 125,973
Inflation compensation (3) 25,297 + 157 + 2,997 25,325
Federal agency debt securities (2) 2,347 0 - 62 2,347
Mortgage-backed securities (4) 1,426,314 + 2,589 - 225,099 1,422,436
Unamortized premiums on securities held outright (5) 125,572 - 73 - 15,479 125,398
Unamortized discounts on securities held outright (5) -13,150 - 26 + 341 -13,237
Repurchase agreements (6) 235,292 + 22,271 + 235,292 236,662
Loans 24 + 2 - 50 48
Primary credit 15 + 4 + 6 39
Secondary credit 0 0 0 0
Seasonal credit 9 - 2 - 56 10
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 2 0
Float -106 - 1 + 51 -94
Central bank liquidity swaps (8) 79 + 10 + 9 79
Other Federal Reserve assets (9) 23,974 + 1,781 - 2,118 24,090
Foreign currency denominated assets (10) 20,618 + 2 + 12 20,587
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,110 + 14 + 357 50,110
Total factors supplying reserve funds 4,174,563 + 40,380 + 39,858 4,185,346
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 18, 2019
Federal Reserve Banks Dec 18, 2019 Dec 11, 2019 Dec 19, 2018
Currency in circulation (11) 1,792,866 + 893 + 87,154 1,796,004
Reverse repurchase agreements (12) 259,711 - 6,506 + 13,915 263,981
Foreign official and international accounts 257,409 - 8,277 + 13,609 250,619
Others 2,302 + 1,770 + 306 13,362
Treasury cash holdings 175 - 13 - 27 171
Deposits with F.R. Banks, other than reserve balances 416,200 + 24,034 - 22,000 449,240
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 332,592 + 5,727 - 18,122 378,573
Foreign official 5,182 - 1 - 61 5,182
Other (13) 78,426 + 18,308 - 3,817 65,485
Other liabilities and capital (14) 45,363 + 380 - 294 44,502
Total factors, other than reserve balances,
absorbing reserve funds 2,514,314 + 18,788 + 78,747 2,553,899
Reserve balances with Federal Reserve Banks 1,660,249 + 21,592 - 38,889 1,631,448
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 18, 2019
Dec 18, 2019 Dec 11, 2019 Dec 19, 2018
Securities held in custody for foreign official and
international accounts 3,405,432 + 253 + 2,263 3,414,835
Marketable U.S. Treasury securities (1) 2,956,614 + 781 - 71,178 2,966,793
Federal agency debt and mortgage-backed securities (2) 365,457 - 267 + 56,747 365,073
Other securities (3) 83,360 - 262 + 16,693 82,969
Securities lent to dealers 30,769 - 2,872 + 7,871 30,271
Overnight facility (4) 30,769 - 2,872 + 7,871 30,271
U.S. Treasury securities 30,769 - 2,872 + 7,871 30,271
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 18, 2019
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans 48 0 0 0 0 ... 48
U.S. Treasury securities (1)
Holdings 22,179 104,466 328,716 882,652 322,172 640,493 2,300,678
Weekly changes + 8,556 - 6,006 + 14,815 + 1,051 + 36 + 30 + 18,482
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 1,175 75,163 1,346,083 1,422,436
Weekly changes 0 0 0 - 4 - 518 - 768 - 1,289
Repurchase agreements (4) 111,662 125,000 ... ... ... ... 236,662
Central bank liquidity swaps (5) 79 0 0 0 0 0 79
Reverse repurchase agreements (4) 263,981 0 ... ... ... ... 263,981
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 18, 2019
Mortgage-backed securities held outright (1) 1,422,436
Commitments to buy mortgage-backed securities (2) 7,336
Commitments to sell mortgage-backed securities (2) 87
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 18, 2019 Wednesday Wednesday
consolidation Dec 11, 2019 Dec 19, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,673 + 24 - 69
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,074,333 + 40,522 + 55,076
Securities held outright (1) 3,725,461 + 17,193 - 166,296
U.S. Treasury securities 2,300,678 + 18,482 + 60,017
Bills (2) 147,022 + 15,002 + 147,022
Notes and bonds, nominal (2) 2,002,358 + 3,402 - 99,438
Notes and bonds, inflation-indexed (2) 125,973 0 + 9,428
Inflation compensation (3) 25,325 + 78 + 3,004
Federal agency debt securities (2) 2,347 0 - 62
Mortgage-backed securities (4) 1,422,436 - 1,289 - 226,251
Unamortized premiums on securities held outright
(5) 125,398 - 313 - 15,486
Unamortized discounts on securities held outright
(5) -13,237 - 94 + 242
Repurchase agreements (6) 236,662 + 23,705 + 236,662
Loans 48 + 30 - 47
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0
Items in process of collection (0) 54 - 9 - 135
Bank premises 2,195 + 3 - 4
Central bank liquidity swaps (8) 79 + 10 + 9
Foreign currency denominated assets (9) 20,587 - 49 - 174
Other assets (10) 21,895 + 1,061 - 1,924
Total assets (0) 4,137,052 + 41,561 + 52,778
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 18, 2019 Wednesday Wednesday
consolidation Dec 11, 2019 Dec 19, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,747,734 + 3,085 + 86,595
Reverse repurchase agreements (11) 263,981 + 1,348 + 11,362
Deposits (0) 2,080,688 + 37,205 - 44,112
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,631,448 - 39,748 - 17,717
U.S. Treasury, General Account 378,573 + 74,413 - 17,720
Foreign official 5,182 0 - 62
Other (12) (0) 65,485 + 2,540 - 8,613
Deferred availability cash items (0) 148 - 126 - 221
Other liabilities and accrued dividends (13) 5,985 + 46 - 201
Total liabilities (0) 4,098,535 + 41,556 + 53,422
Capital accounts
Capital paid in 31,692 + 5 - 643
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 38,517 + 5 - 643
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 18, 2019
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificate account 11,037 351 3,707 327 531 754 1,560 711 328 186 292 890 1,400
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,673 39 43 147 104 221 170 277 33 47 114 193 287
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,074,333 84,526 2,222,811 98,665 119,203 249,332 278,574 213,865 58,558 35,270 60,417 176,921 476,191
Securities held outright (1) 3,725,461 77,289 2,032,503 90,218 108,998 227,985 254,721 195,555 53,545 32,237 55,243 161,764 435,405
U.S. Treasury securities 2,300,678 47,730 1,255,183 55,715 67,312 140,793 157,304 120,766 33,067 19,908 34,115 99,898 268,887
Bills (2) 147,022 3,050 80,211 3,560 4,301 8,997 10,052 7,717 2,113 1,272 2,180 6,384 17,183
Notes and bonds (3) 2,153,656 44,680 1,174,972 52,154 63,011 131,796 147,252 113,048 30,954 18,636 31,935 93,514 251,704
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,422,436 29,510 776,039 34,447 41,617 87,048 97,256 74,666 20,444 12,309 21,092 61,764 166,244
Unamortized premiums on securities held
outright (5) 125,398 2,602 68,414 3,037 3,669 7,674 8,574 6,582 1,802 1,085 1,859 5,445 14,656
Unamortized discounts on securities
held outright (5) -13,237 -275 -7,222 -321 -387 -810 -905 -695 -190 -115 -196 -575 -1,547
Repurchase agreements (6) 236,662 4,910 129,116 5,731 6,924 14,483 16,181 12,423 3,401 2,048 3,509 10,276 27,659
Loans 48 0 0 0 0 0 3 0 0 14 2 11 18
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 54 0 0 0 0 0 0
Bank premises 2,195 106 455 89 117 191 203 194 102 93 228 224 192
Central bank liquidity swaps (8) 79 3 25 5 6 17 5 3 1 0 1 1 12
Foreign currency denominated
assets (9) 20,587 887 6,534 1,189 1,643 4,389 1,197 859 314 98 199 255 3,022
Other assets (10) 21,895 467 11,404 521 642 1,573 1,467 1,111 518 225 395 1,067 2,506
Interdistrict settlement account 0 + 4,691 - 99,936 - 15,390 + 15,346 + 2,066 + 23,122 + 18,485 + 8,750 + 5,375 + 7,172 + 20,489 + 9,828
Total assets 4,137,052 91,265 2,146,861 85,763 137,830 258,955 307,006 235,929 68,754 41,384 68,971 200,322 494,012
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 18, 2019 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes outstanding 1,957,678 60,728 639,935 57,479 94,250 134,183 273,542 126,840 59,665 31,997 54,228 164,420 260,410
Less: Notes held by F.R. Banks 209,945 6,100 54,684 8,440 9,161 16,521 31,219 12,908 5,294 3,186 7,136 20,107 35,188
Federal Reserve notes, net 1,747,734 54,628 585,251 49,039 85,089 117,662 242,323 113,932 54,371 28,811 47,092 144,313 225,222
Reverse repurchase agreements (11) 263,981 5,477 144,020 6,393 7,723 16,155 18,049 13,857 3,794 2,284 3,914 11,462 30,852
Deposits 2,080,688 29,155 1,402,180 28,581 41,516 116,371 44,210 106,259 9,805 9,741 17,394 43,793 231,682
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 1,631,448 29,131 995,728 28,579 41,470 116,063 44,176 64,123 9,798 9,683 17,346 43,676 231,676
U.S. Treasury, General Account 378,573 0 378,573 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) 65,485 23 22,725 0 43 299 32 42,134 7 58 47 116 0
Deferred availability cash items 148 0 0 0 0 0 42 0 0 106 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 1,206 21 690 26 31 26 107 61 19 6 21 65 133
Other liabilities and accrued
dividends 4,779 185 1,901 190 216 596 305 307 143 155 152 227 401
Total liabilities 4,098,535 89,467 2,134,043 84,228 134,576 250,809 305,037 234,416 68,130 41,104 68,573 199,861 488,290
Capital
Capital paid in 31,692 1,505 10,653 1,141 2,709 6,690 1,572 1,228 520 248 332 376 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 4,137,052 91,265 2,146,861 85,763 137,830 258,955 307,006 235,929 68,754 41,384 68,971 200,322 494,012
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 18, 2019 (continued)
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency
debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to the note on consolidation below.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9. Revalued daily at current foreign currency exchange rates.
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by
depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after
providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.
Note on consolidation:
On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the
remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan
Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they
have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the
previous page (and in table 1 and table 4), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other
liabilities in this table (and table 1 and table 4).
6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Dec 18, 2019
Federal Reserve notes outstanding 1,957,678
Less: Notes held by F.R. Banks not subject to collateralization 209,945
Federal Reserve notes to be collateralized 1,747,734
Collateral held against Federal Reserve notes 1,747,734
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,731,497
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,962,123
Less: Face value of securities under reverse repurchase agreements 256,863
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,705,260
Note: Components may not sum to totals because of rounding.
1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright,
compensation to adjust for the effect of inflation on the original face value of inflation-indexed
securities, and cash value of repurchase agreements.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
Release dates | Data Download Program (DDP) |
About |
Announcements |
Technical Q&As
Current release Other formats:
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ASCII |
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Statistical releases