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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 February 13, 2020 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks Reserve Bank credit Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Loans Primary credit Secondary credit Seasonal credit Other credit extensions Net portfolio holdings of Maiden Lane LLC7 Float Central bank liquidity swaps8 Other Federal Reserve assets9 Foreign currency denominated assets10 Gold stock Special drawing rights certificate account Treasury currency outstanding11 Week ended Feb 12, 2020 4,135,017 3,828,262 2,438,021 255,466 2,026,276 130,823 25,456 2,347 1,387,894 123,836 -13,307 164,724 0 0 0 0 0 0 -95 55 31,542 20,370 11,041 5,200 50,190 Averages of daily figures Change from week ended Feb 5, 2020 Feb 13, 2019 + + + + + + + + + + - + + + - + 15,078 22,789 22,184 18,646 1,938 1,578 22 0 605 294 1 10,595 6 5 0 0 0 0 249 7 2,339 250 0 0 14 4,221,818 + 14,841 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + + + + + - Wednesday Feb 12, 2020 + 146,431 1,621 232,377 255,466 43,120 16,054 3,977 62 233,936 14,318 69 164,724 20 6 0 14 0 0 27 16 2,276 426 0 0 385 4,144,202 3,836,494 2,442,621 258,038 2,028,077 131,052 25,454 2,347 1,391,526 124,249 -13,266 164,400 0 0 0 0 0 0 -102 55 32,372 20,310 11,041 5,200 50,190 + 146,390 4,230,943 - + - H.4.1 1. Factors Affecting Reserve Balances of Depository Institutions (continued) Millions of dollars Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks Week ended Feb 12, 2020 Averages of daily figures Change from week ended Feb 5, 2020 Feb 13, 2019 Currency in circulation11 Reverse repurchase agreements12 Foreign official and international accounts Others Treasury cash holdings Deposits with F.R. Banks, other than reserve balances Term deposits held by depository institutions U.S. Treasury, General Account Foreign official Other13 Other liabilities and capital14 1,794,429 228,286 227,562 724 231 478,775 0 411,237 5,183 62,355 44,532 + + - Total factors, other than reserve balances, absorbing reserve funds Reserve balances with Federal Reserve Banks Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. + + + + + 1,774 16,258 12,693 3,565 12 2,000 0 2,085 1 85 764 2,546,252 - 1,675,566 + Wednesday Feb 12, 2020 + + + 88,343 20,890 19,653 1,237 37 53,305 0 52,128 61 1,237 77 1,796,425 223,829 223,520 309 248 470,728 0 404,341 5,183 61,204 44,632 15,708 + 120,796 2,535,861 30,550 + 25,593 1,695,082 Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Face value of the securities. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 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. Cash value of agreements. Refer to the note on consolidation accompanying table 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. 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. Revalued daily at current foreign currency exchange rates. Estimated. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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. Includes the liability for earnings remittances due to the U.S. Treasury. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. H.4.1 1A. Memorandum Items Millions of dollars Memorandum item Week ended Feb 12, 2020 Securities held in custody for foreign official and international accounts Marketable U.S. Treasury securities1 Federal agency debt and mortgage-backed securities2 Other securities3 Securities lent to dealers Overnight facility4 U.S. Treasury securities Federal agency debt securities Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. Averages of daily figures Change from week ended Feb 5, 2020 Feb 13, 2019 3,458,431 3,008,942 367,288 82,201 32,778 32,778 32,778 0 + + + + + + + 32,086 29,221 2,414 451 1,349 1,349 1,349 0 + + + + + + Wednesday Feb 12, 2020 31,613 27,269 47,161 11,721 14,113 14,113 14,113 0 3,464,467 3,000,571 381,634 82,262 33,034 33,034 33,034 0 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. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value. Face value. Fully collateralized by U.S. Treasury securities. 2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, February 12, 2020 Millions of dollars Within 15 days Remaining Maturity Loans U.S. Treasury securities1 Holdings Weekly changes Federal agency debt securities2 Holdings Weekly changes Mortgage-backed securities3 Holdings Weekly changes Repurchase agreements4 Central bank liquidity swaps5 16 days to 90 days 0 - 52,182 1,182 0 + 129,306 14,130 2. 3. 4. 5. 0 - 376,189 2,449 + Over 1 year to 5 years Over 5 year to 10 years 0 0 918,350 395 - 319,315 14 0 0 0 0 0 0 0 0 1,151 0 0 0 164,400 55 1 0 0 0 4 0 ... 0 1,394 0 ... 0 71,691 0 ... 0 0 0 ... 0 ... ... ... ... 223,829 Reverse repurchase agreements4 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 91 days to 1 year Over 10 years All ... + 647,278 3,859 0 + 2,442,621 14,741 1,196 0 + 1,318,437 4,237 ... 0 ... ... 2,347 0 + 1,391,526 4,237 164,400 55 223,829 0 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. Face value. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. Cash value of agreements. 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. H.4.1 3. Supplemental Information on Mortgage-Backed Securities Millions of dollars Account name Wednesday Feb 12, 2020 Mortgage-backed securities held outright1 1,391,526 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 3,956 0 0 Cash and cash equivalents3 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. H.4.1 4. Consolidated Statement of Condition of All Federal Reserve Banks Millions of dollars Assets, liabilities, and capital Assets Gold certificate account Special drawing rights certificate account Coin Securities, unamortized premiums and discounts, repurchase agreements, and loans Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds, nominal2 Notes and bonds, inflation-indexed2 Inflation compensation3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Loans Net portfolio holdings of Maiden Lane LLC7 Items in process of collection Bank premises Central bank liquidity swaps8 Foreign currency denominated assets9 Other assets10 Eliminations from consolidation Wednesday Feb 12, 2020 11,037 5,200 1,783 (0) 4,111,877 3,836,494 2,442,621 258,038 2,028,077 131,052 25,454 2,347 1,391,526 124,249 -13,266 164,400 0 0 55 2,197 55 20,310 30,175 (0) 4,182,689 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Change since Wednesday Wednesday Feb 5, 2020 Feb 13, 2019 + + + + + + + + 0 0 11 - 0 0 26 + + + + + + + - + + + 13,900 18,978 14,741 10,502 2,602 1,601 36 0 4,237 707 67 5,850 1 0 21 4 7 143 2,223 - 157,054 6,525 237,017 258,038 41,319 16,283 4,015 62 230,430 13,814 40 164,400 18 0 5 4 16 398 2,348 + 15,982 + 154,258 + + + - H.4.1 4. Consolidated Statement of Condition of All Federal Reserve Banks (continued) Millions of dollars Assets, liabilities, and capital Liabilities Federal Reserve notes, net of F.R. Bank holdings Reverse repurchase agreements11 Deposits Term deposits held by depository institutions Other deposits held by depository institutions U.S. Treasury, General Account Foreign official Other12 Deferred availability cash items Other liabilities and accrued dividends13 Total liabilities Capital accounts Capital paid in Surplus Other capital accounts Total capital Note: Components may not sum to totals because of rounding. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Eliminations from consolidation (0) (0) (0) (0) Wednesday Feb 12, 2020 Change since Wednesday Wednesday Feb 5, 2020 Feb 13, 2019 1,748,261 223,829 2,165,810 0 1,695,082 404,341 5,183 61,204 158 6,112 + + + + + 1,767 15,334 28,547 0 42,209 12,244 0 1,417 22 1,007 + + + + 86,375 22,436 90,316 0 60,665 29,222 61 490 47 691 4,144,169 + 15,964 + 154,898 31,695 6,825 0 + 18 0 0 - 641 0 0 38,520 + 18 - 641 + - Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Face value of the securities. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Refer to the note on consolidation accompanying table 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. Revalued daily at current foreign currency exchange rates. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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. Includes the liability for earnings remittances due to the U.S. Treasury. H.4.1 5. Statement of Condition of Each Federal Reserve Bank, February 12, 2020 Millions of dollars Assets, liabilities, and capital Assets Gold certificate account Special drawing rights certificate acct. Coin Securities, unamortized premiums and discounts, repurchase agreements, and loans Securities held outright1 U.S. Treasury securities Bills2 Notes and bonds3 Federal agency debt securities2 Mortgage-backed securities4 Unamortized premiums on securities held outright5 Unamortized discounts on securities held outright5 Repurchase agreements6 Loans Net portfolio holdings of Maiden Lane LLC7 Items in process of collection Bank premises Central bank liquidity swaps8 Foreign currency denominated assets9 Other assets10 Interdistrict settlement account Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City Dallas San Francisco 11,037 5,200 1,783 351 196 42 3,707 1,818 54 327 210 158 531 237 102 754 412 237 1,560 654 178 711 424 288 328 150 37 186 90 52 292 153 120 890 282 206 1,400 574 307 4,111,877 3,836,494 2,442,621 258,038 2,184,583 2,347 1,391,526 85,306 79,593 50,675 5,353 45,322 49 28,869 2,243,320 2,093,079 1,332,622 140,778 1,191,845 1,280 759,176 99,576 92,907 59,152 6,249 52,903 57 33,698 120,303 112,246 71,465 7,550 63,915 69 40,713 251,632 234,780 149,480 15,791 133,689 144 85,156 281,142 262,313 167,009 17,643 149,367 160 95,143 215,838 201,383 128,217 13,545 114,672 123 73,043 59,098 55,140 35,107 3,709 31,398 34 20,000 35,581 33,198 21,137 2,233 18,904 20 12,041 60,972 56,889 36,220 3,826 32,394 35 20,634 178,543 166,585 106,061 11,204 94,857 102 60,422 480,566 448,382 285,476 30,158 255,318 274 162,631 124,249 2,578 67,787 3,009 3,635 7,604 8,495 6,522 1,786 1,075 1,842 5,395 14,521 -13,266 164,400 0 -275 3,411 0 -7,238 89,692 0 -321 3,981 0 -388 4,810 0 -812 10,061 0 -907 11,241 0 -696 8,630 0 -191 2,363 0 -115 1,423 0 -197 2,438 0 -576 7,138 0 -1,550 19,214 0 0 55 2,197 55 0 0 105 2 0 0 455 18 0 0 94 3 0 0 117 4 0 0 192 12 0 55 202 3 0 0 192 2 0 0 102 1 0 0 93 0 0 0 228 1 0 0 222 1 0 0 196 8 20,310 30,175 0 + 875 642 1,025 - 848 1,550 6,634 + 310 547 8,714 + 6,447 15,939 65,344 - 1,173 724 11,627 + 1,621 900 12,744 - 4,182,689 88,544 2,206,413 90,639 136,561 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,330 2,084 10,096 + 249,557 1,181 2,041 23,383 + 310,399 226,488 69,287 97 334 3,858 + 40,291 197 547 6,421 + 68,930 251 1,383 21,734 + 203,512 2,981 3,484 2,552 492,069 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, February 12, 2020 (continued) Millions of dollars Assets, liabilities, and capital Liabilities Federal Reserve notes outstanding Less: Notes held by F.R. Banks Federal Reserve notes, net Reverse repurchase agreements11 Deposits Term deposits held by depository institutions Other deposits held by depository institutions U.S. Treasury, General Account Foreign official Other12 Deferred availability cash items Earnings remittances due to the U.S. Treasury13 Other liabilities and accrued dividends Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas City San Francisco Dallas 1,960,230 211,969 1,748,261 223,829 2,165,810 60,763 6,234 54,530 4,644 27,352 644,158 52,300 591,858 122,114 1,476,694 57,436 8,820 48,616 5,420 35,012 93,822 10,113 83,708 6,549 42,799 134,324 16,787 117,537 13,698 109,632 274,099 32,973 241,126 15,304 51,612 126,709 13,628 113,081 11,749 99,773 59,447 5,048 54,400 3,217 10,874 32,138 3,114 29,024 1,937 8,767 54,134 7,056 47,078 3,319 17,927 163,810 20,027 143,783 9,719 49,259 259,389 35,869 223,520 26,159 236,108 0 0 0 0 0 0 0 0 0 0 0 0 0 1,695,082 404,341 5,183 61,204 158 27,344 0 2 6 0 1,046,302 404,341 5,156 20,896 0 35,010 0 2 0 0 42,766 0 3 30 0 109,260 0 9 363 0 51,577 0 2 32 50 60,067 0 2 39,704 0 10,871 0 1 3 0 8,716 0 0 51 107 17,899 0 0 28 0 49,168 0 0 90 0 236,102 0 6 0 0 1,034 11 629 17 11 11 96 55 16 8 16 63 100 5,078 179 2,171 186 201 549 314 335 148 147 182 231 437 4,144,169 86,715 2,193,466 89,252 133,268 241,426 308,503 224,992 68,655 39,990 68,523 203,054 486,324 31,695 6,825 0 1,505 324 0 10,653 2,294 0 1,141 246 0 2,709 583 0 6,691 1,441 0 1,558 338 0 1,231 265 0 520 112 0 248 53 0 336 72 0 377 81 0 4,728 1,016 0 4,182,689 88,544 2,206,413 90,639 136,561 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 249,557 310,399 226,488 69,287 40,291 68,930 203,512 492,069 Total liabilities Capital Capital paid in Surplus Other capital H.4.1 5. Statement of Condition of Each Federal Reserve Bank, February 12, 2020 (continued) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Face value of the securities. 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities. 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. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Refer to the note on consolidation below. 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. Revalued daily at current foreign currency exchange rates. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities. 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. 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). H.4.1 6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts Millions of dollars Federal Reserve notes and collateral Federal Reserve notes outstanding Less: Notes held by F.R. Banks not subject to collateralization Federal Reserve notes to be collateralized Collateral held against Federal Reserve notes Gold certificate account Special drawing rights certificate account U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 Other assets pledged Memo: Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 Less: Face value of securities under reverse repurchase agreements U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged Note: Components may not sum to totals because of rounding. 1. 2. 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. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A. Wednesday Feb 12, 2020 1,960,230 211,969 1,748,261 1,748,261 11,037 5,200 1,732,024 0 4,000,894 220,163 3,780,731
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