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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.
Release dates | Data Download Program (DDP) |
About |
Announcements |
Technical Q&As
Current release Other formats:
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ASCII |
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(21 KB)
Statistical releases