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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 March 5, 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 Mar 4, 2020 4,144,341 3,865,007 2,490,816 295,543 2,038,824 131,052 25,397 2,347 1,371,844 123,436 -13,477 150,293 12 11 0 0 0 0 -491 48 19,512 20,655 11,041 5,200 50,197 Averages of daily figures Change from week ended Feb 26, 2020 Mar 6, 2019 + + + + + + + + + + + + + 24,850 18,441 25,603 19,288 6,316 0 1 0 7,163 72 15 6,450 10 9 0 0 0 0 308 3 310 479 0 0 14 4,231,434 + 25,343 Total factors supplying reserve funds Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. + + + + + + + Wednesday Mar 4, 2020 + 215,099 79,591 315,417 295,543 187 15,898 4,163 62 235,765 13,509 254 150,293 0 5 0 6 0 0 158 17 849 64 0 0 367 4,202,074 3,876,816 2,502,624 303,042 2,043,081 131,052 25,449 2,347 1,371,846 124,406 -13,425 195,000 1 1 0 0 0 0 -628 48 19,855 20,775 11,041 5,200 50,197 + 215,401 4,289,287 + - - 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 Mar 4, 2020 Averages of daily figures Change from week ended Feb 26, 2020 Mar 6, 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 1,803,521 228,234 226,089 2,145 289 456,126 0 374,515 5,187 76,424 44,409 + + + + - 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. + + + - 4,579 6,487 7,228 741 17 58,039 0 64,850 0 6,811 87 2,532,579 - 1,698,855 + - Wednesday Mar 4, 2020 + + + 88,749 21,866 21,495 371 26 171,303 0 154,470 57 16,890 1 1,810,269 236,702 231,677 5,025 306 462,394 0 381,302 5,186 75,906 44,610 47,043 + 238,161 2,554,282 72,386 - 22,759 1,735,005 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 Mar 4, 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 26, 2020 Mar 6, 2019 3,457,675 2,998,649 377,070 81,956 32,322 32,322 32,322 0 + + + 2,650 1,689 887 73 3,003 3,003 3,003 0 + + + + + Wednesday Mar 4, 2020 8,278 71,973 53,351 10,344 5,842 5,842 5,842 0 3,442,481 2,982,812 377,112 82,557 35,719 35,719 35,719 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, March 4, 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 1 - 22,679 12,133 0 + 213,281 24,497 0 0 0 0 0 0 195,000 48 0 0 0 0 236,702 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 0 0 + 367,820 11,840 + 0 0 + 4 1 ... 0 ... 0 Over 1 year to 5 years Over 5 year to 10 years 0 0 914,339 941 + 0 0 + 1,649 163 ... 0 ... ... 326,323 941 Over 10 years ... + 1,151 0 + 71,812 1,616 ... 0 ... ... All 658,181 2,479 1 + 2,502,624 28,564 1,196 0 - 1,298,380 1,777 ... 0 ... ... 2,347 0 + 1,371,846 3 195,000 48 236,702 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 Mar 4, 2020 Mortgage-backed securities held outright1 1,371,846 Commitments to buy mortgage-backed securities2 Commitments to sell mortgage-backed securities2 2,763 0 1 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 Mar 4, 2020 11,037 5,200 1,751 (0) 4,182,798 3,876,816 2,502,624 303,042 2,043,081 131,052 25,449 2,347 1,371,846 124,406 -13,425 195,000 1 0 42 2,198 48 20,775 17,657 (0) 4,241,507 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 26, 2020 Mar 6, 2019 + + + + + 0 0 19 - 0 0 19 + + + + + + + + - + + + 81,239 28,566 28,564 22,501 5,999 0 64 0 3 1,103 22 51,560 12 0 5 4 4 500 1,154 + - 273,710 91,378 327,204 303,042 4,070 15,898 4,194 62 235,763 12,450 212 195,000 5 0 22 1 17 96 1,376 + 82,870 + 272,373 + + + + + - 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 Mar 4, 2020 Change since Wednesday Wednesday Feb 26, 2020 Mar 6, 2019 1,762,125 236,702 2,197,400 0 1,735,006 381,302 5,186 75,906 670 6,052 + + + + + + + + 10,216 16,734 55,412 0 54,936 6,313 0 6,789 32 469 + + + + 90,472 430 182,123 0 1,541 167,691 58 16,032 12 826 4,202,949 + 82,863 + 273,003 31,733 6,825 0 + 7 0 0 - 630 0 0 38,558 + 7 - 630 + - 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, March 4, 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 1,751 351 196 41 3,707 1,818 54 327 210 159 531 237 97 754 412 236 1,560 654 166 711 424 287 328 150 36 186 90 54 292 153 118 890 282 201 1,400 574 302 4,182,798 3,876,816 2,502,624 303,042 2,199,582 2,347 1,371,846 86,777 80,429 51,920 6,287 45,633 49 28,461 2,282,012 2,115,077 1,365,358 165,331 1,200,027 1,280 748,439 101,293 93,883 60,605 7,339 53,266 57 33,221 122,378 113,426 73,220 8,866 64,354 69 40,137 255,972 237,247 153,152 18,545 134,607 144 83,952 285,991 265,070 171,112 20,720 150,392 160 93,797 219,562 203,499 131,366 15,907 115,459 123 72,010 60,118 55,720 35,969 4,356 31,614 34 19,717 36,195 33,547 21,656 2,622 19,033 20 11,871 62,024 57,487 37,110 4,494 32,616 35 20,342 181,622 168,336 108,667 13,158 95,508 102 59,567 488,855 453,094 292,488 35,417 257,071 274 160,331 124,406 2,581 67,872 3,013 3,640 7,613 8,506 6,530 1,788 1,077 1,845 5,402 14,540 -13,425 195,000 1 -279 4,046 0 -7,324 106,386 0 -325 4,722 0 -393 5,705 0 -822 11,933 0 -918 13,333 0 -705 10,236 1 -193 2,803 0 -116 1,687 0 -199 2,892 0 -583 8,467 0 -1,569 22,790 0 0 42 2,198 48 0 0 104 2 0 0 454 15 0 0 94 3 0 0 119 4 0 0 191 10 0 42 202 3 0 0 191 2 0 0 102 1 0 0 92 0 0 0 227 0 0 0 223 1 0 0 197 7 1,658 524 6,052 + 4,429 1,299 25 + 20,775 17,657 0 + 895 379 39,056 - 6,594 9,052 180,967 + 1,200 420 1,186 + 4,241,507 127,801 2,122,739 104,894 131,600 Total assets Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 263,329 1,208 1,181 28,278 + 319,284 867 896 17,793 + 240,733 317 553 10,498 + 72,102 99 207 6,497 + 43,420 201 334 7,447 + 70,797 257 782 28,028 + 212,286 3,050 2,031 36,107 532,523 H.4.1 5. Statement of Condition of Each Federal Reserve Bank, March 4, 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 1,964,485 202,360 1,762,125 236,702 2,197,400 60,909 6,011 54,898 4,911 65,955 648,634 53,214 595,420 129,138 1,382,677 57,264 8,660 48,604 5,732 48,944 93,598 8,800 84,797 6,925 36,316 134,100 15,646 118,454 14,485 121,609 274,105 31,686 242,420 16,184 58,304 126,665 12,821 113,844 12,425 112,599 59,341 4,603 54,738 3,402 13,149 32,055 2,781 29,275 2,048 11,012 54,093 7,085 47,008 3,510 19,682 163,610 18,532 145,078 10,278 56,196 260,111 32,522 227,589 27,664 270,957 0 0 0 0 0 0 0 0 0 0 0 0 0 1,735,006 381,302 5,186 75,906 670 65,941 0 2 13 0 966,361 381,302 5,159 29,855 0 48,942 0 2 0 0 36,262 0 3 51 0 121,119 0 9 481 0 58,269 0 2 32 46 67,341 0 2 45,256 0 13,145 0 1 3 0 10,959 0 0 53 624 19,657 0 0 24 0 56,058 0 0 137 0 270,950 0 6 1 0 2,091 41 1,023 64 92 174 171 99 46 22 27 82 251 3,961 167 1,507 162 177 477 263 271 135 137 160 194 310 4,202,949 125,972 2,109,765 103,507 128,307 255,198 317,388 239,237 71,470 43,118 70,388 211,828 526,771 31,733 6,825 0 1,505 324 0 10,681 2,294 0 1,141 246 0 2,710 583 0 6,691 1,441 0 1,558 338 0 1,231 265 0 520 112 0 248 53 0 337 72 0 377 81 0 4,736 1,016 0 4,241,507 127,801 2,122,739 104,894 131,600 Total liabilities and capital Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table. 263,329 319,284 240,733 72,102 43,420 70,797 212,286 532,523 Total liabilities Capital Capital paid in Surplus Other capital H.4.1 5. Statement of Condition of Each Federal Reserve Bank, March 4, 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 Mar 4, 2020 1,964,485 202,360 1,762,125 1,762,125 11,037 5,200 1,745,888 0 4,071,816 229,676 3,842,140
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