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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 9, 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 8, 2020 4,128,328 3,746,685 2,335,662 173,811 2,009,006 127,384 25,460 2,347 1,408,677 124,476 -13,240 240,958 5 3 0 2 0 0 -202 3,728 25,916 20,750 11,041 5,200 50,120 Averages of daily figures Change from week ended Jan 1, 2020 Jan 9, 2019 + + + + + + + + - + + + + 6,932 6,750 6,751 4,286 1,448 1,008 8 0 0 149 43 1,368 21 12 0 9 0 0 268 1 1,408 49 0 0 14 4,215,440 + 6,995 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 8, 2020 + 111,501 115,298 113,212 173,811 74,580 10,839 3,141 62 228,446 15,380 158 240,958 2 4 0 2 0 0 5 3,053 1,986 318 0 0 351 4,110,819 3,758,738 2,347,714 184,527 2,010,350 127,384 25,453 2,347 1,408,677 124,474 -13,278 210,587 2 0 0 2 0 0 -124 3,728 26,691 20,632 11,041 5,200 50,120 + 111,535 4,197,813 + + - 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 8, 2020 Averages of daily figures Change from week ended Jan 1, 2020 Jan 9, 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 1,805,007 278,451 275,286 3,165 172 434,555 0 367,002 5,182 62,371 43,168 + + - 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. + + + + - 908 7,358 9,530 16,887 1 21,248 0 15,551 0 5,697 1,733 2,561,354 - 1,654,086 + - Wednesday Jan 8, 2020 + - 89,561 16,434 16,685 251 43 2,097 0 10,304 82 8,124 215 1,802,383 274,923 274,047 876 175 419,861 0 350,840 5,182 63,839 43,843 31,245 + 107,836 2,541,184 38,240 + 3,699 1,656,629 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 8, 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 Jan 1, 2020 Jan 9, 2019 3,407,865 2,966,339 358,876 82,650 34,339 34,339 34,339 0 + + + - 9,664 9,657 28 35 653 653 653 0 + + + + + + Wednesday Jan 8, 2020 12,221 55,990 51,725 16,485 9,864 9,864 9,864 0 3,413,187 2,971,592 358,838 82,756 33,790 33,790 33,790 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 8, 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 + 18,271 10,011 2 + 125,491 9,802 0 0 0 0 210,587 3,728 2. 3. 4. 5. 0 + 0 0 + 274,923 Reverse repurchase agreements4 0 Term deposits Note: Components may not sum to totals because of rounding. ...Not applicable. 1. 91 days to 1 year 1 1 0 0 0 0 344,202 2,327 - 0 0 + 14 2 ... 0 ... 0 Over 1 year to 5 years Over 5 year to 10 years 0 0 894,850 6,122 + 0 0 + 1,150 15 ... 0 ... ... 324,301 2,710 Over 10 years ... + 486 0 + 73,540 12 ... 0 ... ... All - 640,599 52 2 + 2,347,714 18,781 1,861 0 2,347 0 1,333,972 30 ... 0 1,408,677 0 210,587 3,728 ... ... 274,923 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 8, 2020 Mortgage-backed securities held outright1 1,408,677 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 6,005 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 8, 2020 11,037 5,200 1,677 (0) 4,080,523 3,758,738 2,347,714 184,527 2,010,350 127,384 25,453 2,347 1,408,677 124,474 -13,278 210,587 2 0 56 2,198 3,728 20,632 24,493 (0) 4,149,544 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. Change since Wednesday Wednesday Jan 1, 2020 Jan 9, 2019 + + + + + 0 0 20 - 0 0 68 + + + + + + + - + 26,388 18,781 18,781 15,002 3,800 0 21 0 0 103 6 45,032 40 0 26 13 0 160 2,486 + - 92,170 103,206 125,302 184,527 73,236 10,839 3,172 62 228,446 15,315 109 210,587 5 0 133 4 3,642 527 2,099 - 24,082 + 92,981 - + - 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 8, 2020 Change since Wednesday Wednesday Jan 1, 2020 Jan 9, 2019 1,754,110 274,923 2,076,489 0 1,656,629 350,840 5,182 63,839 179 5,319 + + + - - 5,317 61,726 44,530 0 107,780 53,013 0 10,236 546 1,025 + + 90,090 14,482 11,204 0 7,557 1,397 63 4,980 191 412 4,111,021 - 24,082 + 93,591 31,698 6,825 0 0 0 0 - 610 0 0 38,523 0 - 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 8, 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 1,677 351 196 42 3,707 1,818 40 327 210 148 531 237 98 754 412 224 1,560 654 173 711 424 279 328 150 32 186 90 49 292 153 114 890 282 196 1,400 574 282 4,080,523 3,758,738 2,347,714 184,527 2,163,187 2,347 1,408,677 84,655 77,979 48,706 3,828 44,878 49 29,225 2,226,213 2,050,657 1,280,844 100,673 1,180,172 1,280 768,533 98,816 91,024 56,854 4,469 52,385 57 34,113 119,386 109,971 68,688 5,399 63,289 69 41,214 249,713 230,021 143,672 11,292 132,379 144 86,206 278,998 256,996 160,520 12,617 147,904 160 96,316 214,192 197,301 123,235 9,686 113,549 123 73,943 58,648 54,023 33,743 2,652 31,091 34 20,246 35,311 32,525 20,315 1,597 18,719 20 12,190 60,508 55,736 34,813 2,736 32,077 35 20,888 177,181 163,209 101,941 8,012 93,928 102 61,166 476,902 439,294 274,384 21,566 252,818 274 164,636 124,474 2,582 67,909 3,014 3,642 7,617 8,511 6,534 1,789 1,077 1,846 5,405 14,548 -13,278 210,587 2 -275 4,369 0 -7,244 114,890 0 -322 5,100 0 -388 6,161 0 -813 12,887 0 -908 14,398 0 -697 11,054 0 -191 3,027 0 -115 1,822 1 -197 3,123 1 -577 9,144 0 -1,552 24,612 0 0 56 2,198 3,728 0 0 105 161 0 0 455 1,183 0 0 91 215 0 0 117 298 0 0 191 795 0 55 203 217 0 0 193 156 0 0 102 57 0 0 93 18 0 0 228 36 0 0 224 46 0 0 197 547 20,632 24,493 0 + 888 524 2,817 - 6,549 12,919 105,029 - 1,647 729 5,769 - 4,399 1,731 7,815 + 1,192 588 11,398 + 4,149,544 89,741 2,147,855 90,191 128,812 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 250,404 1,200 1,661 28,365 + 313,085 861 1,260 19,520 + 237,596 315 432 9,183 + 69,245 98 275 5,000 + 41,119 200 441 8,152 + 70,124 255 1,099 22,699 + 202,872 3,029 2,833 22,736 508,499 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, January 8, 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 1,955,504 201,394 1,754,110 274,923 2,076,489 60,892 5,627 55,265 5,704 26,797 639,468 50,452 589,016 149,990 1,393,710 57,617 8,275 49,342 6,658 32,461 94,095 8,956 85,139 8,044 32,171 134,213 16,131 118,082 16,824 106,844 272,849 30,296 242,553 18,797 49,317 126,708 12,289 114,420 14,431 106,888 59,592 5,055 54,536 3,951 9,981 32,055 2,874 29,181 2,379 9,000 54,217 6,885 47,332 4,077 18,158 164,209 19,469 144,740 11,937 45,449 259,590 35,085 224,505 32,131 245,713 0 0 0 0 0 0 0 0 0 0 0 0 0 1,656,629 350,840 5,182 63,839 179 26,786 0 2 9 0 1,016,874 350,840 5,155 20,842 0 32,459 0 2 0 0 32,136 0 3 31 0 106,550 0 9 286 0 49,282 0 2 33 52 64,483 0 2 42,403 0 9,977 0 1 3 0 8,905 0 0 95 127 18,122 0 0 35 0 45,382 0 0 66 0 245,672 0 6 35 0 1,462 22 846 29 37 41 122 75 23 11 22 80 153 3,857 155 1,474 165 167 467 275 267 131 140 135 205 276 4,111,021 87,942 2,135,037 88,655 125,558 242,258 311,116 236,080 68,622 40,839 69,724 202,411 502,778 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 4,149,544 89,741 2,147,855 90,191 128,812 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 250,404 313,085 237,596 69,245 41,119 70,124 202,872 508,499 Total liabilities Capital Capital paid in Surplus Other capital H.4.1 5. Statement of Condition of Each Federal Reserve Bank, January 8, 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 8, 2020 1,955,504 201,394 1,754,110 1,754,110 11,037 5,200 1,737,873 0 3,969,325 266,951 3,702,373
@FedFRASER