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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 20, 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 19, 2020 4,144,838 3,837,204 2,444,969 260,181 2,028,306 131,052 25,430 2,347 1,389,889 124,048 -13,301 167,414 2 2 0 0 0 0 -114 68 29,516 20,243 11,041 5,200 50,169 Averages of daily figures Change from week ended Feb 12, 2020 Feb 20, 2019 + + + + + + + + + + + + + - + 9,821 8,942 6,948 4,715 2,030 229 26 0 1,995 212 6 2,690 2 2 0 0 0 0 19 13 2,026 127 0 0 14 4,231,492 + 9,709 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 19, 2020 + 192,725 31,424 259,407 260,181 21,123 16,283 4,066 62 227,920 13,716 49 167,414 17 3 0 14 0 0 53 0 7,615 490 0 0 355 4,133,260 3,839,819 2,451,688 265,539 2,029,678 131,052 25,419 2,347 1,385,784 123,866 -13,499 163,900 5 5 0 0 0 0 -117 67 19,217 20,112 11,041 5,200 50,169 + 192,592 4,219,781 - + + - 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 19, 2020 Averages of daily figures Change from week ended Feb 12, 2020 Feb 20, 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 1,798,139 225,764 223,614 2,150 251 509,060 0 428,805 5,185 75,070 44,160 + + + + 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. + + + + + - 3,745 2,522 3,948 1,426 20 30,285 0 17,568 2 12,715 372 2,577,374 + 1,654,118 - Wednesday Feb 19, 2020 + + + 87,292 23,165 21,506 1,660 30 106,841 0 94,909 59 11,991 116 1,799,719 226,964 221,815 5,149 270 490,183 0 421,051 5,187 63,945 43,624 31,157 + 171,054 2,560,760 21,448 + 21,538 1,659,021 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 19, 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 12, 2020 Feb 20, 2019 3,462,507 2,997,429 382,790 82,289 25,769 25,769 25,769 0 + + + - 4,076 11,513 15,502 88 7,009 7,009 7,009 0 + + + + + + Wednesday Feb 19, 2020 30,620 39,121 58,102 11,640 2,927 2,927 2,927 0 3,457,135 2,992,204 382,809 82,122 30,052 30,052 30,052 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 19, 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 5 - 31,238 20,944 0 + 170,808 41,502 0 0 0 0 163,900 67 - 226,964 Reverse repurchase agreements4 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 2. 3. 4. 5. 91 days to 1 year 0 - 361,944 14,245 0 0 0 0 0 1 0 0 4 0 ... 0 0 0 ... 0 - Over 1 year to 5 years Over 5 year to 10 years 0 0 906,588 11,762 + 0 0 + 1,551 157 ... 0 ... ... 325,396 6,081 Over 10 years ... + 1,151 0 - 71,239 452 ... 0 ... ... All 655,715 8,437 5 + 2,451,688 9,067 1,196 0 - 1,312,989 5,448 ... 0 ... ... 2,347 0 - 1,385,784 5,742 163,900 67 226,964 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 19, 2020 Mortgage-backed securities held outright1 1,385,784 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 3,435 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 19, 2020 11,037 5,200 1,774 (0) 4,114,092 3,839,819 2,451,688 265,539 2,029,678 131,052 25,419 2,347 1,385,784 123,866 -13,499 163,900 5 0 71 2,199 67 20,112 17,018 (0) 4,171,570 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 12, 2020 Feb 20, 2019 + + + + + 0 0 9 - 0 0 24 + + + + + + + - + + + - 2,215 3,325 9,067 7,501 1,601 0 35 0 5,742 383 233 500 5 0 16 2 12 198 13,157 - 191,017 41,060 269,487 265,539 16,424 16,283 4,089 62 228,366 13,678 249 163,900 18 0 3 4 1 695 140 - 11,119 + 190,150 + 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 19, 2020 Change since Wednesday Wednesday Feb 12, 2020 Feb 20, 2019 1,751,590 226,964 2,149,204 0 1,659,021 421,051 5,187 63,945 187 5,079 + + - + + + + + + - 3,329 3,135 16,606 0 36,061 16,710 4 2,741 29 1,033 + + + + 87,321 28,215 131,434 0 39,276 90,048 56 2,166 77 296 4,133,025 - 11,144 + 190,760 31,720 6,825 0 + 25 0 0 - 610 0 0 38,545 + 25 - 610 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 19, 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 1,774 351 196 42 3,707 1,818 56 327 210 157 531 237 101 754 412 239 1,560 654 172 711 424 288 328 150 38 186 90 52 292 153 119 890 282 205 1,400 574 304 4,114,092 3,839,819 2,451,688 265,539 2,186,149 2,347 1,385,784 85,352 79,662 50,863 5,509 45,354 49 28,750 2,244,526 2,094,893 1,337,569 144,870 1,192,699 1,280 756,043 99,629 92,987 59,372 6,430 52,941 57 33,559 120,368 112,343 71,730 7,769 63,961 69 40,545 251,767 234,983 150,035 16,250 133,785 144 84,805 281,293 262,540 167,629 18,156 149,474 160 94,750 215,954 201,557 128,692 13,939 114,754 123 72,742 59,130 55,188 35,237 3,816 31,421 34 19,917 35,600 33,227 21,215 2,298 18,917 20 11,992 61,005 56,938 36,355 3,938 32,417 35 20,549 178,639 166,730 106,455 11,530 94,925 102 60,172 480,828 448,770 286,536 31,034 255,501 274 161,960 123,866 2,570 67,578 3,000 3,624 7,580 8,469 6,502 1,780 1,072 1,837 5,378 14,477 -13,499 163,900 5 -280 3,400 0 -7,365 89,419 1 -327 3,969 0 -395 4,795 0 -826 10,030 0 -923 11,206 0 -709 8,603 0 -194 2,356 0 -117 1,418 0 -200 2,430 0 -586 7,117 0 -1,578 19,155 4 0 71 2,199 67 0 0 105 3 0 0 455 21 0 0 94 4 0 0 117 5 0 0 192 14 0 70 202 4 0 0 193 3 0 0 102 1 0 1 93 0 0 0 228 1 0 0 223 1 0 0 196 10 840 858 8,541 + 307 358 8,556 + 20,112 17,018 0 + 866 369 11,013 - 6,383 8,746 63,572 - 1,162 405 9,790 + 1,605 514 7,702 - 4,171,570 98,296 2,202,142 92,198 131,181 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,288 1,280 12,037 + 246,909 1,169 1,140 21,354 + 307,618 227,812 68,970 96 190 4,087 + 40,396 195 352 6,611 + 68,954 249 851 21,728 203,068 2,952 1,954 4,192 484,026 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, February 19, 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 1,961,551 209,962 1,751,590 226,964 2,149,204 61,021 6,354 54,667 4,709 36,918 645,419 53,186 592,232 123,825 1,470,987 57,403 8,613 48,790 5,496 36,341 93,778 9,751 84,027 6,640 37,023 134,350 16,524 117,826 13,889 106,551 273,968 32,480 241,488 15,518 48,274 126,841 13,428 113,413 11,914 100,655 59,455 4,958 54,497 3,262 10,427 32,130 3,085 29,045 1,964 8,821 54,202 6,932 47,270 3,366 17,729 163,805 19,605 144,200 9,855 48,299 259,181 35,046 224,135 26,526 227,180 0 0 0 0 0 0 0 0 0 0 0 0 0 1,659,021 421,051 5,187 63,945 187 36,907 0 2 9 0 1,022,188 421,051 5,160 22,589 0 36,338 0 2 0 0 36,991 0 3 29 0 106,187 0 9 356 0 48,240 0 2 31 74 59,914 0 2 40,740 0 10,423 0 1 3 0 8,765 0 0 56 113 17,697 0 0 32 0 48,198 0 0 100 0 227,174 0 6 0 0 988 11 589 17 20 22 89 47 16 8 15 55 99 4,092 162 1,537 168 179 490 279 287 137 144 167 201 341 4,133,025 96,467 2,189,171 90,811 127,889 238,778 305,722 226,316 68,338 40,095 68,547 202,610 478,282 31,720 6,825 0 1,505 324 0 10,677 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 0 335 72 0 377 81 0 4,729 1,016 0 4,171,570 98,296 2,202,142 92,198 131,181 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 246,909 307,618 227,812 68,970 40,396 68,954 203,068 484,026 Total liabilities Capital Capital paid in Surplus Other capital H.4.1 5. Statement of Condition of Each Federal Reserve Bank, February 19, 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 19, 2020 1,961,551 209,962 1,751,590 1,751,590 11,037 5,200 1,735,353 0 4,003,719 223,216 3,780,503
@FedFRASER