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Release Date: January 02, 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 January 2, 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 Jan 1, 2020
Federal Reserve Banks Jan 1, 2020 Dec 25, 2019 Jan 2, 2019
Reserve Bank credit 4,121,396 + 1,034 + 92,386 4,134,215
Securities held outright (1) 3,739,935 - 4,974 - 132,537 3,739,957
U.S. Treasury securities 2,328,911 + 7,235 + 95,971 2,328,933
Bills (2) 169,525 + 5,358 + 169,525 169,525
Notes and bonds, nominal (2) 2,007,558 + 1,397 - 86,434 2,006,550
Notes and bonds, inflation-indexed (2) 126,376 + 403 + 9,831 127,384
Inflation compensation (3) 25,452 + 76 + 3,049 25,474
Federal agency debt securities (2) 2,347 0 - 62 2,347
Mortgage-backed securities (4) 1,408,677 - 12,209 - 228,446 1,408,677
Unamortized premiums on securities held outright (5) 124,625 - 545 - 15,481 124,577
Unamortized discounts on securities held outright (5) -13,283 + 33 + 147 -13,284
Repurchase agreements (6) 242,326 + 7,114 + 242,326 255,619
Loans 26 + 12 - 38 42
Primary credit 15 + 13 + 1 32
Secondary credit 0 0 0 0
Seasonal credit 11 0 - 39 10
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0 0
Float -470 - 360 + 133 -643
Central bank liquidity swaps (8) 3,729 0 - 478 3,728
Other Federal Reserve assets (9) 24,508 - 245 - 1,685 24,219
Foreign currency denominated assets (10) 20,701 + 126 - 246 20,792
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,138 + 14 + 376 50,138
Total factors supplying reserve funds 4,208,477 + 1,175 + 92,517 4,221,387
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 Jan 1, 2020
Federal Reserve Banks Jan 1, 2020 Dec 25, 2019 Jan 2, 2019
Currency in circulation (11) 1,805,947 + 6,784 + 86,908 1,807,740
Reverse repurchase agreements (12) 285,809 + 27,086 + 19,189 336,649
Foreign official and international accounts 265,756 + 16,259 + 15,695 272,562
Others 20,052 + 10,825 + 3,494 64,087
Treasury cash holdings 171 0 - 43 171
Deposits with F.R. Banks, other than reserve balances 455,803 + 3,182 - 7,373 483,110
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 382,553 + 14,733 + 2,651 403,853
Foreign official 5,182 0 - 62 5,182
Other (13) 68,068 - 11,551 - 9,963 74,075
Other liabilities and capital (14) 44,901 + 205 - 154 44,867
Total factors, other than reserve balances,
absorbing reserve funds 2,592,631 + 37,256 + 98,527 2,672,537
Reserve balances with Federal Reserve Banks 1,615,846 - 36,081 - 6,010 1,548,849
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 Jan 1, 2020
Jan 1, 2020 Dec 25, 2019 Jan 2, 2019
Securities held in custody for foreign official and
international accounts 3,398,201 - 11,000 + 9,220 3,398,249
Marketable U.S. Treasury securities (1) 2,956,682 - 7,362 - 59,098 2,956,741
Federal agency debt and mortgage-backed securities (2) 358,904 - 3,145 + 51,778 358,916
Other securities (3) 82,615 - 494 + 16,540 82,591
Securities lent to dealers 34,992 + 1,941 + 10,487 41,450
Overnight facility (4) 34,992 + 1,941 + 10,487 41,450
U.S. Treasury securities 34,992 + 1,941 + 10,487 41,450
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, January 1, 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 42 0 0 0 0 ... 42
U.S. Treasury securities (1)
Holdings 8,260 115,689 341,875 900,972 321,591 640,547 2,328,933
Weekly changes - 10,111 + 1,316 - 3,249 + 12,708 - 617 + 25 + 71
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 0 12 1,135 73,528 1,334,002 1,408,677
Weekly changes 0 - 1 - 2 - 40 - 1,634 - 9,627 - 11,303
Repurchase agreements (4) 205,619 50,000 ... ... ... ... 255,619
Central bank liquidity swaps (5) 3,728 0 0 0 0 0 3,728
Reverse repurchase agreements (4) 336,649 0 ... ... ... ... 336,649
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
Jan 1, 2020
Mortgage-backed securities held outright (1) 1,408,677
Commitments to buy mortgage-backed securities (2) 4,129
Commitments to sell mortgage-backed securities (2) 0
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 Jan 1, 2020 Wednesday Wednesday
consolidation Dec 25, 2019 Jan 2, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,657 - 4 - 65
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 4,106,911 + 8,975 + 118,266
Securities held outright (1) 3,739,957 - 11,232 - 122,092
U.S. Treasury securities 2,328,933 + 71 + 106,416
Bills (2) 169,525 0 + 169,525
Notes and bonds, nominal (2) 2,006,550 - 1,411 - 77,036
Notes and bonds, inflation-indexed (2) 127,384 + 1,411 + 10,839
Inflation compensation (3) 25,474 + 71 + 3,088
Federal agency debt securities (2) 2,347 0 - 62
Mortgage-backed securities (4) 1,408,677 - 11,303 - 228,446
Unamortized premiums on securities held outright
(5) 124,577 - 503 - 15,431
Unamortized discounts on securities held outright
(5) -13,284 + 32 + 134
Repurchase agreements (6) 255,619 + 20,650 + 255,619
Loans 42 + 29 + 36
Net portfolio holdings of Maiden Lane LLC (7) 0 0 0
Items in process of collection (0) 82 - 21 - 127
Bank premises 2,211 + 4 + 9
Central bank liquidity swaps (8) 3,728 - 1 - 479
Foreign currency denominated assets (9) 20,792 + 221 - 207
Other assets (10) 22,007 - 1,139 - 2,151
Total assets (0) 4,173,626 + 8,035 + 115,248
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 Jan 1, 2020 Wednesday Wednesday
consolidation Dec 25, 2019 Jan 2, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,759,427 + 5,361 + 87,318
Reverse repurchase agreements (11) 336,649 + 83,159 + 60,255
Deposits (0) 2,031,959 - 80,621 - 33,958
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,548,849 - 99,389 - 58,487
U.S. Treasury, General Account 403,853 + 51,919 + 21,237
Foreign official 5,182 0 - 62
Other (12) (0) 74,075 - 33,151 + 3,355
Deferred availability cash items (0) 725 + 558 + 376
Other liabilities and accrued dividends (13) 6,344 - 421 + 1,867
Total liabilities (0) 4,135,103 + 8,034 + 115,858
Capital accounts
Capital paid in 31,698 + 1 - 610
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 38,523 + 1 - 610
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, January 1, 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 1,657 40 41 146 100 220 169 276 31 48 113 192 282
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 4,106,911 85,202 2,240,597 99,454 120,157 251,326 280,800 215,594 59,027 35,547 60,899 178,325 479,982
Securities held outright (1) 3,739,957 77,590 2,040,411 90,569 109,422 228,872 255,712 196,315 53,753 32,363 55,457 162,393 437,099
U.S. Treasury securities 2,328,933 48,316 1,270,598 56,399 68,139 142,522 159,236 122,249 33,473 20,153 34,534 101,125 272,189
Bills (2) 169,525 3,517 92,488 4,105 4,960 10,374 11,591 8,899 2,437 1,467 2,514 7,361 19,813
Notes and bonds (3) 2,159,408 44,799 1,178,110 52,294 63,179 132,148 147,645 113,350 31,036 18,686 32,021 93,764 252,376
Federal agency debt securities (2) 2,347 49 1,280 57 69 144 160 123 34 20 35 102 274
Mortgage-backed securities (4) 1,408,677 29,225 768,533 34,113 41,214 86,206 96,316 73,943 20,246 12,190 20,888 61,166 164,636
Unamortized premiums on securities held
outright (5) 124,577 2,584 67,965 3,017 3,645 7,624 8,518 6,539 1,790 1,078 1,847 5,409 14,560
Unamortized discounts on securities
held outright (5) -13,284 -276 -7,248 -322 -389 -813 -908 -697 -191 -115 -197 -577 -1,553
Repurchase agreements (6) 255,619 5,303 139,458 6,190 7,479 15,643 17,477 13,418 3,674 2,212 3,790 11,099 29,875
Loans 42 0 10 0 0 0 1 19 1 9 1 0 1
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 82 0 0 1 0 0 81 0 0 0 0 0 0
Bank premises 2,211 105 463 92 119 193 203 194 102 93 228 224 196
Central bank liquidity swaps (8) 3,728 161 1,183 215 298 795 217 156 57 18 36 46 547
Foreign currency denominated
assets (9) 20,792 895 6,607 1,200 1,659 4,430 1,208 867 317 99 201 257 3,050
Other assets (10) 22,007 473 11,596 529 658 1,575 1,494 1,131 398 245 405 953 2,548
Interdistrict settlement account 0 + 22,360 - 164,247 - 16,517 + 17,906 + 18,119 + 30,900 + 32,973 + 10,242 + 5,657 + 12,323 + 23,773 + 6,512
Total assets 4,173,626 109,783 2,101,766 85,660 141,664 277,824 317,286 252,325 70,652 41,982 74,650 204,943 495,092
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, January 1, 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 1,955,848 60,894 639,366 57,674 94,151 134,122 272,995 126,718 59,595 31,976 54,173 164,224 259,960
Less: Notes held by F.R. Banks 196,421 5,475 51,623 7,978 8,280 15,317 29,567 11,593 4,775 2,837 6,680 18,681 33,616
Federal Reserve notes, net 1,759,427 55,419 587,743 49,696 85,871 118,805 243,428 115,124 54,821 29,139 47,493 145,543 226,344
Reverse repurchase agreements (11) 336,649 6,984 183,666 8,152 9,849 20,602 23,018 17,671 4,839 2,913 4,992 14,618 39,345
Deposits 2,031,959 45,380 1,314,711 26,042 42,435 129,639 48,343 117,645 10,203 8,847 21,592 44,009 223,111
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 1,548,849 45,313 884,120 26,040 42,395 129,285 47,428 69,052 10,200 8,744 19,336 43,935 223,003
U.S. Treasury, General Account 403,853 0 403,853 0 0 0 0 0 0 0 0 0 0
Foreign official 5,182 2 5,154 2 3 9 2 2 1 0 0 0 6
Other (12) 74,075 65 21,584 0 37 346 913 48,592 3 103 2,256 74 102
Deferred availability cash items 725 0 0 0 0 0 67 0 0 646 12 0 0
Earnings remittances due to the U.S.
Treasury (13) 2,120 41 1,129 65 70 139 186 75 35 19 25 97 240
Other liabilities and accrued
dividends 4,224 160 1,698 169 185 494 274 294 130 138 135 216 330
Total liabilities 4,135,103 107,984 2,088,947 84,125 138,411 269,679 315,317 250,810 70,028 41,701 74,249 204,483 489,370
Capital
Capital paid in 31,698 1,505 10,653 1,141 2,709 6,690 1,572 1,231 520 248 334 376 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 4,173,626 109,783 2,101,766 85,660 141,664 277,824 317,286 252,325 70,652 41,982 74,650 204,943 495,092
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, January 1, 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
Jan 1, 2020
Federal Reserve notes outstanding 1,955,848
Less: Notes held by F.R. Banks not subject to collateralization 196,421
Federal Reserve notes to be collateralized 1,759,427
Collateral held against Federal Reserve notes 1,759,427
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,743,190
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,995,576
Less: Face value of securities under reverse repurchase agreements 325,629
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,669,947
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 |
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Current release Other formats:
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ASCII |
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(21 KB)
Statistical releases