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Release Date: March 05, 2020
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FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks March 5, 2020
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Mar 4, 2020
Federal Reserve Banks Mar 4, 2020 Feb 26, 2020 Mar 6, 2019
Reserve Bank credit 4,144,341 + 24,850 + 215,099 4,202,074
Securities held outright (1) 3,865,007 + 18,441 + 79,591 3,876,816
U.S. Treasury securities 2,490,816 + 25,603 + 315,417 2,502,624
Bills (2) 295,543 + 19,288 + 295,543 303,042
Notes and bonds, nominal (2) 2,038,824 + 6,316 - 187 2,043,081
Notes and bonds, inflation-indexed (2) 131,052 0 + 15,898 131,052
Inflation compensation (3) 25,397 - 1 + 4,163 25,449
Federal agency debt securities (2) 2,347 0 - 62 2,347
Mortgage-backed securities (4) 1,371,844 - 7,163 - 235,765 1,371,846
Unamortized premiums on securities held outright (5) 123,436 - 72 - 13,509 124,406
Unamortized discounts on securities held outright (5) -13,477 + 15 - 254 -13,425
Repurchase agreements (6) 150,293 + 6,450 + 150,293 195,000
Loans 12 + 10 0 1
Primary credit 11 + 9 + 5 1
Secondary credit 0 0 0 0
Seasonal credit 0 0 - 6 0
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0 0
Float -491 - 308 - 158 -628
Central bank liquidity swaps (8) 48 + 3 - 17 48
Other Federal Reserve assets (9) 19,512 + 310 - 849 19,855
Foreign currency denominated assets (10) 20,655 + 479 - 64 20,775
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,197 + 14 + 367 50,197
Total factors supplying reserve funds 4,231,434 + 25,343 + 215,401 4,289,287
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 Mar 4, 2020
Federal Reserve Banks Mar 4, 2020 Feb 26, 2020 Mar 6, 2019
Currency in circulation (11) 1,803,521 + 4,579 + 88,749 1,810,269
Reverse repurchase agreements (12) 228,234 + 6,487 - 21,866 236,702
Foreign official and international accounts 226,089 + 7,228 - 21,495 231,677
Others 2,145 - 741 - 371 5,025
Treasury cash holdings 289 + 17 - 26 306
Deposits with F.R. Banks, other than reserve balances 456,126 - 58,039 + 171,303 462,394
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 374,515 - 64,850 + 154,470 381,302
Foreign official 5,187 0 - 57 5,186
Other (13) 76,424 + 6,811 + 16,890 75,906
Other liabilities and capital (14) 44,409 - 87 + 1 44,610
Total factors, other than reserve balances,
absorbing reserve funds 2,532,579 - 47,043 + 238,161 2,554,282
Reserve balances with Federal Reserve Banks 1,698,855 + 72,386 - 22,759 1,735,005
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 Mar 4, 2020
Mar 4, 2020 Feb 26, 2020 Mar 6, 2019
Securities held in custody for foreign official and
international accounts 3,457,675 - 2,650 - 8,278 3,442,481
Marketable U.S. Treasury securities (1) 2,998,649 - 1,689 - 71,973 2,982,812
Federal agency debt and mortgage-backed securities (2) 377,070 - 887 + 53,351 377,112
Other securities (3) 81,956 - 73 + 10,344 82,557
Securities lent to dealers 32,322 + 3,003 + 5,842 35,719
Overnight facility (4) 32,322 + 3,003 + 5,842 35,719
U.S. Treasury securities 32,322 + 3,003 + 5,842 35,719
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, March 4, 2020
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans 1 0 0 0 0 ... 1
U.S. Treasury securities (1)
Holdings 22,679 213,281 367,820 914,339 326,323 658,181 2,502,624
Weekly changes - 12,133 + 24,497 + 11,840 + 941 + 941 + 2,479 + 28,564
Federal agency debt securities (2)
Holdings 0 0 0 0 1,151 1,196 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 4 1,649 71,812 1,298,380 1,371,846
Weekly changes 0 0 + 1 + 163 + 1,616 - 1,777 + 3
Repurchase agreements (4) 195,000 0 ... ... ... ... 195,000
Central bank liquidity swaps (5) 48 0 0 0 0 0 48
Reverse repurchase agreements (4) 236,702 0 ... ... ... ... 236,702
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
Mar 4, 2020
Mortgage-backed securities held outright (1) 1,371,846
Commitments to buy mortgage-backed securities (2) 2,763
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 1
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 Mar 4, 2020 Wednesday Wednesday
consolidation Feb 26, 2020 Mar 6, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,751 - 19 - 19
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,182,798 + 81,239 + 273,710
Securities held outright (1) 3,876,816 + 28,566 + 91,378
U.S. Treasury securities 2,502,624 + 28,564 + 327,204
Bills (2) 303,042 + 22,501 + 303,042
Notes and bonds, nominal (2) 2,043,081 + 5,999 + 4,070
Notes and bonds, inflation-indexed (2) 131,052 0 + 15,898
Inflation compensation (3) 25,449 + 64 + 4,194
Federal agency debt securities (2) 2,347 0 - 62
Mortgage-backed securities (4) 1,371,846 + 3 - 235,763
Unamortized premiums on securities held outright
(5) 124,406 + 1,103 - 12,450
Unamortized discounts on securities held outright
(5) -13,425 + 22 - 212
Repurchase agreements (6) 195,000 + 51,560 + 195,000
Loans 1 - 12 - 5
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0
Items in process of collection (0) 42 - 5 - 22
Bank premises 2,198 - 4 - 1
Central bank liquidity swaps (8) 48 + 4 - 17
Foreign currency denominated assets (9) 20,775 + 500 + 96
Other assets (10) 17,657 + 1,154 - 1,376
Total assets (0) 4,241,507 + 82,870 + 272,373
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 Mar 4, 2020 Wednesday Wednesday
consolidation Feb 26, 2020 Mar 6, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,762,125 + 10,216 + 90,472
Reverse repurchase agreements (11) 236,702 + 16,734 - 430
Deposits (0) 2,197,400 + 55,412 + 182,123
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,735,006 + 54,936 - 1,541
U.S. Treasury, General Account 381,302 - 6,313 + 167,691
Foreign official 5,186 0 - 58
Other (12) (0) 75,906 + 6,789 + 16,032
Deferred availability cash items (0) 670 + 32 + 12
Other liabilities and accrued dividends (13) 6,052 + 469 + 826
Total liabilities (0) 4,202,949 + 82,863 + 273,003
Capital accounts
Capital paid in 31,733 + 7 - 630
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 38,558 + 7 - 630
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, March 4, 2020
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificate account 11,037 351 3,707 327 531 754 1,560 711 328 186 292 890 1,400
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,751 41 54 159 97 236 166 287 36 54 118 201 302
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,182,798 86,777 2,282,012 101,293 122,378 255,972 285,991 219,562 60,118 36,195 62,024 181,622 488,855
Securities held outright (1) 3,876,816 80,429 2,115,077 93,883 113,426 237,247 265,070 203,499 55,720 33,547 57,487 168,336 453,094
U.S. Treasury securities 2,502,624 51,920 1,365,358 60,605 73,220 153,152 171,112 131,366 35,969 21,656 37,110 108,667 292,488
Bills (2) 303,042 6,287 165,331 7,339 8,866 18,545 20,720 15,907 4,356 2,622 4,494 13,158 35,417
Notes and bonds (3) 2,199,582 45,633 1,200,027 53,266 64,354 134,607 150,392 115,459 31,614 19,033 32,616 95,508 257,071
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,371,846 28,461 748,439 33,221 40,137 83,952 93,797 72,010 19,717 11,871 20,342 59,567 160,331
Unamortized premiums on securities held
outright (5) 124,406 2,581 67,872 3,013 3,640 7,613 8,506 6,530 1,788 1,077 1,845 5,402 14,540
Unamortized discounts on securities
held outright (5) -13,425 -279 -7,324 -325 -393 -822 -918 -705 -193 -116 -199 -583 -1,569
Repurchase agreements (6) 195,000 4,046 106,386 4,722 5,705 11,933 13,333 10,236 2,803 1,687 2,892 8,467 22,790
Loans 1 0 0 0 0 0 0 1 0 0 0 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 42 0 0 0 0 0 42 0 0 0 0 0 0
Bank premises 2,198 104 454 94 119 191 202 191 102 92 227 223 197
Central bank liquidity swaps (8) 48 2 15 3 4 10 3 2 1 0 0 1 7
Foreign currency denominated
assets (9) 20,775 895 6,594 1,200 1,658 4,429 1,208 867 317 99 201 257 3,050
Other assets (10) 17,657 379 9,052 420 524 1,299 1,181 896 553 207 334 782 2,031
Interdistrict settlement account 0 + 39,056 - 180,967 + 1,186 + 6,052 + 25 + 28,278 + 17,793 + 10,498 + 6,497 + 7,447 + 28,028 + 36,107
Total assets 4,241,507 127,801 2,122,739 104,894 131,600 263,329 319,284 240,733 72,102 43,420 70,797 212,286 532,523
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, March 4, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes outstanding 1,964,485 60,909 648,634 57,264 93,598 134,100 274,105 126,665 59,341 32,055 54,093 163,610 260,111
Less: Notes held by F.R. Banks 202,360 6,011 53,214 8,660 8,800 15,646 31,686 12,821 4,603 2,781 7,085 18,532 32,522
Federal Reserve notes, net 1,762,125 54,898 595,420 48,604 84,797 118,454 242,420 113,844 54,738 29,275 47,008 145,078 227,589
Reverse repurchase agreements (11) 236,702 4,911 129,138 5,732 6,925 14,485 16,184 12,425 3,402 2,048 3,510 10,278 27,664
Deposits 2,197,400 65,955 1,382,677 48,944 36,316 121,609 58,304 112,599 13,149 11,012 19,682 56,196 270,957
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 1,735,006 65,941 966,361 48,942 36,262 121,119 58,269 67,341 13,145 10,959 19,657 56,058 270,950
U.S. Treasury, General Account 381,302 0 381,302 0 0 0 0 0 0 0 0 0 0
Foreign official 5,186 2 5,159 2 3 9 2 2 1 0 0 0 6
Other (12) 75,906 13 29,855 0 51 481 32 45,256 3 53 24 137 1
Deferred availability cash items 670 0 0 0 0 0 46 0 0 624 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 2,091 41 1,023 64 92 174 171 99 46 22 27 82 251
Other liabilities and accrued
dividends 3,961 167 1,507 162 177 477 263 271 135 137 160 194 310
Total liabilities 4,202,949 125,972 2,109,765 103,507 128,307 255,198 317,388 239,237 71,470 43,118 70,388 211,828 526,771
Capital
Capital paid in 31,733 1,505 10,681 1,141 2,710 6,691 1,558 1,231 520 248 337 377 4,736
Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,241,507 127,801 2,122,739 104,894 131,600 263,329 319,284 240,733 72,102 43,420 70,797 212,286 532,523
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, March 4, 2020 (continued)
1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. Face value of the securities.
3. Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized. For U.S. Treasury securities, Federal agency
debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to the note on consolidation below.
8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
9. Revalued daily at current foreign currency exchange rates.
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by
depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General
Account, for services provided by the Reserve Banks as fiscal agents of the United States.
13. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after
providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.
Note on consolidation:
On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended a loan to Maiden Lane LLC (ML) under the authority of section 13(3) of the Federal Reserve Act. ML was formed to
acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and minimize disruption to financial markets. On June 14, 2012, the
remaining outstanding balance of the senior loan from FRBNY to ML was repaid in full, with interest. On November 15, 2012, the remaining outstanding balance of the subordinated loan from JPMorgan
Chase & Co. to ML was repaid in full, with interest. FRBNY was the primary beneficiary of ML because it received any residual returns and could have absorbed any residual losses should they
have occurred. Consistent with generally accepted accounting principles, the assets and liabilities of ML were consolidated with the assets and liabilities of FRBNY in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from FRBNY to ML was eliminated, the net assets of ML appeared as assets on the
previous page (and in table 1 and table 4), and the liabilities of ML to entities other than FRBNY, including those with recourse only to the ML portfolio holdings, were included in other
liabilities in this table (and table 1 and table 4).
6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Mar 4, 2020
Federal Reserve notes outstanding 1,964,485
Less: Notes held by F.R. Banks not subject to collateralization 202,360
Federal Reserve notes to be collateralized 1,762,125
Collateral held against Federal Reserve notes 1,762,125
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,745,888
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 4,071,816
Less: Face value of securities under reverse repurchase agreements 229,676
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,842,140
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