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Release Date: May 16, 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 May 16, 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 May 15, 2019
Federal Reserve Banks May 15, 2019 May 8, 2019 May 16, 2018
Reserve Bank credit 3,850,500 - 1,923 - 463,888 3,825,790
Securities held outright (1) 3,699,797 - 2,048 - 443,795 3,686,375
U.S. Treasury securities 2,122,831 - 1,234 - 270,274 2,114,444
Bills (2) 100 0 + 100 100
Notes and bonds, nominal (2) 1,985,017 - 1,408 - 274,589 1,976,565
Notes and bonds, inflation-indexed (2) 115,361 0 + 2,412 115,361
Inflation compensation (3) 22,353 + 175 + 1,803 22,417
Federal agency debt securities (2) 2,347 0 - 2,044 2,347
Mortgage-backed securities (4) 1,574,619 - 814 - 171,477 1,569,584
Unamortized premiums on securities held outright (5) 133,690 - 213 - 18,698 133,469
Unamortized discounts on securities held outright (5) -12,946 + 7 + 964 -13,064
Repurchase agreements (6) 19 + 10 + 1 0
Loans 44 0 - 42 64
Primary credit 7 + 1 - 16 22
Secondary credit 0 0 0 0
Seasonal credit 38 + 1 - 25 42
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,715 0
Float -188 - 46 + 4 -213
Central bank liquidity swaps (8) 50 - 5 - 30 50
Other Federal Reserve assets (9) 30,035 + 373 - 575 19,110
Foreign currency denominated assets (10) 20,738 + 147 - 767 20,711
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 49,949 + 14 + 388 49,949
Total factors supplying reserve funds 3,937,429 - 1,762 - 464,266 3,912,691
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 May 15, 2019
Federal Reserve Banks May 15, 2019 May 8, 2019 May 16, 2018
Currency in circulation (11) 1,731,645 + 223 + 80,991 1,732,314
Reverse repurchase agreements (12) 259,303 - 4,865 + 10,404 263,925
Foreign official and international accounts 258,822 - 5,189 + 13,206 263,363
Others 482 + 325 - 2,801 562
Treasury cash holdings 319 - 10 + 48 303
Deposits with F.R. Banks, other than reserve balances 390,894 - 21,648 - 29,347 354,965
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 323,786 - 24,571 - 13,472 294,969
Foreign official 5,245 + 1 - 10 5,246
Other (13) 61,862 + 2,921 - 15,866 54,750
Other liabilities and capital (14) 45,400 - 354 + 40 44,767
Total factors, other than reserve balances,
absorbing reserve funds 2,427,562 - 26,654 + 62,137 2,396,273
Reserve balances with Federal Reserve Banks 1,509,867 + 24,892 - 526,403 1,516,418
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 May 15, 2019
May 15, 2019 May 8, 2019 May 16, 2018
Securities held in custody for foreign official and
international accounts 3,469,397 + 7,843 + 82,172 3,468,234
Marketable U.S. Treasury securities (1) 3,062,456 + 6,161 + 27,303 3,060,589
Federal agency debt and mortgage-backed securities (2) 332,818 + 676 + 57,298 333,324
Other securities (3) 74,123 + 1,006 - 2,430 74,321
Securities lent to dealers 21,503 - 2,172 + 881 24,800
Overnight facility (4) 21,503 - 2,172 + 881 24,800
U.S. Treasury securities 21,503 - 2,172 + 881 24,800
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, May 15, 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 24 40 0 0 0 ... 64
U.S. Treasury securities (1)
Holdings 0 63,117 255,980 917,215 257,102 621,030 2,114,444
Weekly changes - 38,475 + 1 + 2 + 14,688 - 1,637 + 15,738 - 9,685
Federal agency debt securities (2)
Holdings 0 0 0 0 0 2,347 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 10 303 73,297 1,495,974 1,569,584
Weekly changes 0 0 0 - 5 - 454 - 5,391 - 5,849
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 50 0 0 0 0 0 50
Reverse repurchase agreements (4) 263,925 0 ... ... ... ... 263,925
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
May 15, 2019
Mortgage-backed securities held outright (1) 1,569,584
Commitments to buy mortgage-backed securities (2) 275
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 17
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 May 15, 2019 Wednesday Wednesday
consolidation May 8, 2019 May 16, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,678 + 7 - 125
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 3,806,843 - 16,110 - 468,463
Securities held outright (1) 3,686,375 - 15,534 - 450,497
U.S. Treasury securities 2,114,444 - 9,685 - 272,522
Bills (2) 100 0 + 100
Notes and bonds, nominal (2) 1,976,565 - 9,860 - 276,877
Notes and bonds, inflation-indexed (2) 115,361 0 + 2,412
Inflation compensation (3) 22,417 + 175 + 1,842
Federal agency debt securities (2) 2,347 0 - 2,044
Mortgage-backed securities (4) 1,569,584 - 5,849 - 175,930
Unamortized premiums on securities held outright
(5) 133,469 - 387 - 18,780
Unamortized discounts on securities held outright
(5) -13,064 - 121 + 889
Repurchase agreements (6) 0 - 65 - 65
Loans 64 - 2 - 9
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,712
Items in process of collection (0) 119 + 4 + 41
Bank premises 2,196 + 2 + 1
Central bank liquidity swaps (8) 50 - 5 - 30
Foreign currency denominated assets (9) 20,711 + 44 - 612
Other assets (10) 16,914 - 11,408 - 1,961
Total assets (0) 3,864,749 - 27,467 - 472,860
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 May 15, 2019 Wednesday Wednesday
consolidation May 8, 2019 May 16, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,684,341 - 820 + 78,198
Reverse repurchase agreements (11) 263,925 + 2,955 + 7,021
Deposits (0) 1,871,383 - 28,893 - 558,427
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,516,419 + 25,739 - 506,242
U.S. Treasury, General Account 294,969 - 49,492 - 32,779
Foreign official 5,246 + 1 - 9
Other (12) (0) 54,750 - 5,141 - 19,395
Deferred availability cash items (0) 333 + 86 + 67
Other liabilities and accrued dividends (13) 5,380 - 754 + 206
Total liabilities (0) 3,825,362 - 27,426 - 472,935
Capital accounts
Capital paid in 32,562 - 40 + 750
Surplus 6,825 0 - 675
Other capital accounts 0 0 0
Total capital 39,387 - 40 + 75
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, May 15, 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 1,678 45 39 145 111 221 176 288 26 48 108 184 285
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 3,806,843 78,976 2,076,868 92,187 111,377 232,961 260,281 199,849 54,719 32,968 56,450 165,297 444,911
Securities held outright (1) 3,686,375 76,478 2,011,178 89,271 107,854 225,593 252,049 193,503 52,983 31,899 54,663 160,067 430,837
U.S. Treasury securities 2,114,444 43,867 1,153,579 51,205 61,863 129,396 144,571 110,990 30,390 18,297 31,354 91,812 247,121
Bills (2) 100 2 55 2 3 6 7 5 1 1 1 4 12
Notes and bonds (3) 2,114,344 43,865 1,153,524 51,202 61,860 129,390 144,564 110,985 30,389 18,296 31,352 91,807 247,109
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,569,584 32,563 856,319 38,010 45,922 96,053 107,317 82,390 22,559 13,582 23,274 68,153 183,442
Unamortized premiums on securities held
outright (5) 133,469 2,769 72,817 3,232 3,905 8,168 9,126 7,006 1,918 1,155 1,979 5,795 15,599
Unamortized discounts on securities
held outright (5) -13,064 -271 -7,127 -316 -382 -799 -893 -686 -188 -113 -194 -567 -1,527
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 64 0 0 0 0 0 0 26 5 27 1 2 3
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 119 0 0 0 0 0 118 0 0 1 0 0 0
Bank premises 2,196 108 458 81 119 193 207 191 105 95 229 220 191
Central bank liquidity swaps (8) 50 2 16 3 4 11 3 2 1 0 0 1 7
Foreign currency denominated
assets (9) 20,711 892 6,573 1,197 1,653 4,416 1,204 865 316 98 201 256 3,040
Other assets (10) 16,914 378 8,764 408 509 1,247 1,148 861 333 187 335 790 1,954
Interdistrict settlement account 0 + 7,387 - 128,970 + 373 + 1,041 + 7,137 + 25,131 + 423 + 6,338 + 2,897 + 3,494 + 20,187 + 54,563
Total assets 3,864,749 88,335 1,969,273 94,930 115,581 247,352 290,483 203,614 62,315 36,570 61,262 188,107 506,927
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, May 15, 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 1,881,294 57,761 621,539 54,476 89,763 128,028 258,712 121,294 55,956 31,322 50,338 158,346 253,761
Less: Notes held by F.R. Banks 196,953 6,410 49,503 8,173 9,842 14,727 30,470 12,742 6,066 3,052 7,857 18,867 29,244
Federal Reserve notes, net 1,684,341 51,351 572,035 46,303 79,921 113,301 228,242 108,553 49,890 28,269 42,481 139,479 224,517
Reverse repurchase agreements (11) 263,925 5,475 143,990 6,391 7,722 16,151 18,045 13,854 3,793 2,284 3,914 11,460 30,846
Deposits 1,871,383 29,524 1,238,600 39,754 24,488 108,938 41,393 79,316 7,866 5,460 14,310 36,413 245,321
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 1,516,419 29,514 919,152 39,751 24,458 108,597 41,355 44,526 7,859 5,393 14,259 36,239 245,314
U.S. Treasury, General Account 294,969 0 294,969 0 0 0 0 0 0 0 0 0 0
Foreign official 5,246 2 5,218 2 3 9 2 2 1 0 0 0 6
Other (12) 54,750 8 19,261 1 26 333 36 34,789 7 67 50 173 1
Deferred availability cash items 333 0 0 0 0 0 118 0 0 215 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 1,157 38 626 24 45 60 102 53 15 12 11 60 111
Other liabilities and accrued
dividends 4,223 156 1,603 192 194 517 298 275 134 140 153 208 352
Total liabilities 3,825,362 86,545 1,956,853 92,664 112,369 238,967 288,199 202,051 61,700 36,381 60,868 187,620 501,147
Capital
Capital paid in 32,562 1,496 10,254 1,871 2,666 6,931 1,887 1,279 511 157 328 403 4,779
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 3,864,749 88,335 1,969,273 94,930 115,581 247,352 290,483 203,614 62,315 36,570 61,262 188,107 506,927
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, May 15, 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
May 15, 2019
Federal Reserve notes outstanding 1,881,294
Less: Notes held by F.R. Banks not subject to collateralization 196,953
Federal Reserve notes to be collateralized 1,684,341
Collateral held against Federal Reserve notes 1,684,341
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,668,104
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,686,375
Less: Face value of securities under reverse repurchase agreements 261,306
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,425,069
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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(21 KB)
Statistical releases