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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 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 Jan 1, 2020 4,121,396 3,739,935 2,328,911 169,525 2,007,558 126,376 25,452 2,347 1,408,677 124,625 -13,283 242,326 26 15 0 11 0 0 -470 3,729 24,508 20,701 11,041 5,200 50,138 Averages of daily figures Change from week ended Dec 25, 2019 Jan 2, 2019 + + + + + + + + + + + + 1,034 4,974 7,235 5,358 1,397 403 76 0 12,209 545 33 7,114 12 13 0 0 0 0 360 0 245 126 0 0 14 4,208,477 + 1,175 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + + + + + + + Wednesday Jan 1, 2020 + 92,386 132,537 95,971 169,525 86,434 9,831 3,049 62 228,446 15,481 147 242,326 38 1 0 39 0 0 133 478 1,685 246 0 0 376 4,134,215 3,739,957 2,328,933 169,525 2,006,550 127,384 25,474 2,347 1,408,677 124,577 -13,284 255,619 42 32 0 10 0 0 -643 3,728 24,219 20,792 11,041 5,200 50,138 + 92,517 4,221,387 - + - 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 Jan 1, 2020 Averages of daily figures Change from week ended Dec 25, 2019 Jan 2, 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 1,805,947 285,809 265,756 20,052 171 455,803 0 382,553 5,182 68,068 44,901 + + + + 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. + + + + - + 6,784 27,086 16,259 10,825 0 3,182 0 14,733 0 11,551 205 2,592,631 + 1,615,846 - + + Wednesday Jan 1, 2020 + - 86,908 19,189 15,695 3,494 43 7,373 0 2,651 62 9,963 154 1,807,740 336,649 272,562 64,087 171 483,110 0 403,853 5,182 74,075 44,867 37,256 + 98,527 2,672,537 36,081 - 6,010 1,548,849 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 Jan 1, 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 Dec 25, 2019 Jan 2, 2019 3,398,201 2,956,682 358,904 82,615 34,992 34,992 34,992 0 + + + 11,000 7,362 3,145 494 1,941 1,941 1,941 0 + + + + + + Wednesday Jan 1, 2020 9,220 59,098 51,778 16,540 10,487 10,487 10,487 0 3,398,249 2,956,741 358,916 82,591 41,450 41,450 41,450 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, January 1, 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 42 - 8,260 10,111 0 + 115,689 1,316 0 0 0 0 205,619 3,728 2. 3. 4. 5. 0 - 0 0 - 336,649 Reverse repurchase agreements4 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 91 days to 1 year 0 1 50,000 0 0 0 341,875 3,249 + 0 0 - 12 2 ... 0 ... 0 Over 1 year to 5 years Over 5 year to 10 years 0 0 900,972 12,708 - 0 0 - 1,135 40 ... 0 ... ... 321,591 617 Over 10 years ... + 486 0 - 73,528 1,634 ... 0 ... ... All 640,547 25 42 + 2,328,933 71 1,861 0 - 1,334,002 9,627 ... 0 ... ... 2,347 0 - 1,408,677 11,303 255,619 3,728 336,649 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 Jan 1, 2020 Mortgage-backed securities held outright1 1,408,677 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 4,129 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 Jan 1, 2020 11,037 5,200 1,657 (0) 4,106,911 3,739,957 2,328,933 169,525 2,006,550 127,384 25,474 2,347 1,408,677 124,577 -13,284 255,619 42 0 82 2,211 3,728 20,792 22,007 (0) 4,173,626 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Change since Wednesday Wednesday Dec 25, 2019 Jan 2, 2019 + + 0 0 4 - 0 0 65 + + + + + + + + + + - 8,975 11,232 71 0 1,411 1,411 71 0 11,303 503 32 20,650 29 0 21 4 1 221 1,139 + - 118,266 122,092 106,416 169,525 77,036 10,839 3,088 62 228,446 15,431 134 255,619 36 0 127 9 479 207 2,151 + 8,035 + 115,248 + + + + + 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 Jan 1, 2020 Change since Wednesday Wednesday Dec 25, 2019 Jan 2, 2019 1,759,427 336,649 2,031,959 0 1,548,849 403,853 5,182 74,075 725 6,344 + + - + + - + - 5,361 83,159 80,621 0 99,389 51,919 0 33,151 558 421 + + + + 87,318 60,255 33,958 0 58,487 21,237 62 3,355 376 1,867 4,135,103 + 8,034 + 115,858 31,698 6,825 0 + 1 0 0 - 610 0 0 38,523 + 1 - 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, January 1, 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 1,657 351 196 40 3,707 1,818 41 327 210 146 531 237 100 754 412 220 1,560 654 169 711 424 276 328 150 31 186 90 48 292 153 113 890 282 192 1,400 574 282 4,106,911 3,739,957 2,328,933 169,525 2,159,408 2,347 1,408,677 85,202 77,590 48,316 3,517 44,799 49 29,225 2,240,597 2,040,411 1,270,598 92,488 1,178,110 1,280 768,533 99,454 90,569 56,399 4,105 52,294 57 34,113 120,157 109,422 68,139 4,960 63,179 69 41,214 251,326 228,872 142,522 10,374 132,148 144 86,206 280,800 255,712 159,236 11,591 147,645 160 96,316 215,594 196,315 122,249 8,899 113,350 123 73,943 59,027 53,753 33,473 2,437 31,036 34 20,246 35,547 32,363 20,153 1,467 18,686 20 12,190 60,899 55,457 34,534 2,514 32,021 35 20,888 178,325 162,393 101,125 7,361 93,764 102 61,166 479,982 437,099 272,189 19,813 252,376 274 164,636 124,577 2,584 67,965 3,017 3,645 7,624 8,518 6,539 1,790 1,078 1,847 5,409 14,560 -13,284 255,619 42 -276 5,303 0 -7,248 139,458 10 -322 6,190 0 -389 7,479 0 -813 15,643 0 -908 17,477 1 -697 13,418 19 -191 3,674 1 -115 2,212 9 -197 3,790 1 -577 11,099 0 -1,553 29,875 1 0 82 2,211 3,728 0 0 105 161 0 0 463 1,183 0 1 92 215 0 0 119 298 0 0 193 795 0 81 203 217 0 0 194 156 0 0 102 57 0 0 93 18 0 0 228 36 0 0 224 46 0 0 196 547 20,792 22,007 0 + 895 473 22,360 - 6,607 11,596 164,247 - 1,200 529 16,517 + 1,659 658 17,906 + 4,173,626 109,783 2,101,766 85,660 141,664 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 4,430 1,575 18,119 + 277,824 1,208 1,494 30,900 + 317,286 867 1,131 32,973 + 252,325 317 398 10,242 + 70,652 99 245 5,657 + 41,982 201 405 12,323 + 74,650 257 953 23,773 + 204,943 3,050 2,548 6,512 495,092 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, January 1, 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 1,955,848 196,421 1,759,427 336,649 2,031,959 60,894 5,475 55,419 6,984 45,380 639,366 51,623 587,743 183,666 1,314,711 57,674 7,978 49,696 8,152 26,042 94,151 8,280 85,871 9,849 42,435 134,122 15,317 118,805 20,602 129,639 272,995 29,567 243,428 23,018 48,343 126,718 11,593 115,124 17,671 117,645 59,595 4,775 54,821 4,839 10,203 31,976 2,837 29,139 2,913 8,847 54,173 6,680 47,493 4,992 21,592 164,224 18,681 145,543 14,618 44,009 259,960 33,616 226,344 39,345 223,111 0 0 0 0 0 0 0 0 0 0 0 0 0 1,548,849 403,853 5,182 74,075 725 45,313 0 2 65 0 884,120 403,853 5,154 21,584 0 26,040 0 2 0 0 42,395 0 3 37 0 129,285 0 9 346 0 47,428 0 2 913 67 69,052 0 2 48,592 0 10,200 0 1 3 0 8,744 0 0 103 646 19,336 0 0 2,256 12 43,935 0 0 74 0 223,003 0 6 102 0 2,120 41 1,129 65 70 139 186 75 35 19 25 97 240 4,224 160 1,698 169 185 494 274 294 130 138 135 216 330 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 31,698 6,825 0 1,505 294 0 10,653 2,166 0 1,141 394 0 2,709 545 0 6,690 1,455 0 1,572 397 0 1,231 285 0 520 104 0 248 32 0 334 66 0 376 84 0 4,720 1,002 0 4,173,626 109,783 2,101,766 85,660 141,664 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 277,824 317,286 252,325 70,652 41,982 74,650 204,943 495,092 Total liabilities Capital Capital paid in Surplus Other capital H.4.1 5. Statement of Condition of Each Federal Reserve Bank, January 1, 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 Jan 1, 2020 1,955,848 196,421 1,759,427 1,759,427 11,037 5,200 1,743,190 0 3,995,576 325,629 3,669,947
@FedFRASER