Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date:  August 07, 2008
Release dates
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)
FEDERAL RESERVE statistical release
 

H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks
August 7, 2008
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
Averages of daily figures Wednesday
Aug 6, 2008
Week ended
Aug 6, 2008
Change from week ended
Jul 30, 2008 Aug 8, 2007
                                                              
Reserve Bank credit                                         889,150     -   3,633     +  38,892       882,522 
  Securities held outright                                  479,291     +     117     - 311,523       479,330 
    U.S. Treasury (1)                                       479,291     +     117     - 311,523       479,330 
      Bills (2)                                              21,740             0     - 255,279        21,740 
      Notes and bonds, nominal (2)                          411,731     -     661     -  61,647       411,731 
      Notes and bonds, inflation-indexed (2)                 39,832     +     661     +   4,079        39,832 
      Inflation compensation (3)                              5,988     +     117     +   1,324         6,027 
    Federal agency (2)                                            0             0             0             0 
  Repurchase agreements (4)                                 110,500     -   3,214     +  91,929       104,750 
  Term auction credit                                       150,000             0     + 150,000       150,000 
  Other loans                                                17,463     -     181     +  17,212        17,504 
    Primary credit                                           17,370     -      82     +  17,369        17,407 
    Secondary credit                                              0     -      89             0             0 
    Seasonal credit                                              93     -       8     -     156            97 
    Primary dealer credit facility                               0    -       3            0            0 
    Other credit extensions                                       0             0             0             0 
  Net portfolio holdings of Maiden Lane LLC (5)              29,105     +      40     +  29,105        29,139 
  Float                                                      -1,180     +     141     -     282        -1,656 
  Other Federal Reserve assets                              103,971     -     536     +  62,450       103,455 
Gold stock                                                   11,041             0             0        11,041 
Special drawing rights certificate account                    2,200             0             0         2,200 
Treasury currency outstanding (6)                            38,747     +      14     +     195        38,747 
                                                              
Total factors supplying reserve funds                       941,138     -   3,619     +  39,087       934,510 
                                                                          
Currency in circulation (6)                                 831,567     +     951     +  18,556       832,922 
Reverse repurchase agreements (7)                            43,790     +     254     +  12,143        43,198 
  Foreign official and international accounts                43,790     +     254     +  12,143        43,198 
  Dealers                                                         0             0             0             0 
Treasury cash holdings                                          315     +       2     +      70           298 
Deposits with F.R. Banks, other than reserve balances        12,363     -     415     +     403        12,222 
  U.S. Treasury, general account                              4,880     -     214     -     118         4,798 
  Foreign official                                              115     +      14     +      21           101 
  Service-related                                             7,019     -     242     +     457         7,019 
    Required clearing balances                                7,019     -     242     +     457         7,019 
    Adjustments to compensate for float                           0             0             0             0 
  Other                                                         348     +      26     +      42           303 
Other liabilities and capital (8)                            42,813     -      25     +   2,776        42,027 
                                                              
Total factors, other than reserve balances,                                                       
   absorbing reserve funds                                  930,848     +     767     +  33,948       930,667 
                                                              
Reserve balances with Federal Reserve Banks                  10,290     -   4,386     +   5,139         3,842 
                                                                
Note: Components may not sum to totals because of rounding.
 

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Cash value of agreements.
5. Fair value. Refer to table 2 and the note on consolidation accompanying table 5.
6. Estimated.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New
York, including liabilities that have recourse only to the portfolio holdings of Maiden Lane LLC.
Refer to table 2 and the note on consolidation accompanying table 5.
 

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
 

 

1A. Memorandum Items, August 6, 2008
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Aug 6, 2008
Week ended
Aug 6, 2008
Change from week ended
Jul 30, 2008 Aug 8, 2007
                                                              
Marketable securities held in custody for foreign             
      official and international accounts (1)             2,395,684     +  28,010     + 389,258     2,400,849 
  U.S. Treasury                                           1,418,843     +  34,425     + 171,024     1,420,203 
  Federal agency                                            976,842     -   6,414     + 218,235       980,646 
Securities lent to dealers                                  132,859     +   6,206     + 129,372       132,790 
  Overnight facility (2)                                      7,997     +   3,121     +   4,510         7,642 
  Term facility (3)                                         124,862     +   3,085     + 124,862       125,148 
 

Note: Components may not sum to totals because of rounding.
 

1. Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value.
2. Fully collateralized by U.S. Treasury securities.
3. Fully collateralized by U.S. Treasury securities, federal agency securities, and highly rated
non-agency asset-backed and mortgage-backed securities.
 

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
 

 

2. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Aug 6, 2008
                                                                                                
Net portfolio holdings of Maiden Lane LLC (1)                                                       29,139    
                                                                                                
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York (2)           28,820    
Accrued interest payable to the Federal Reserve Bank of New York (2)                                    74    
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. (3)        1,159    
 
1. Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if
the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly.
This table reflects valuations as of June 30, 2008.
2. Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement
of condition consistent with consolidation under generally accepted accounting principles. Refer to
the note on consolidation accompanying table 5.
3. Book value. The fair value of these obligations is included in other liabilities and capital in table 1
and in other liabilities and accrued dividends in table 4 and table 5.
 

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC
under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed
to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of
the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the
proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC,
principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest
due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.
 

 

3. Maturity Distribution of Term Auction Credit, Other Loans, and Securities, August 6, 2008
Millions of dollars
  U.S. Treasury
securities (2)
 
Remaining maturity Term
auction
credit
Other
loans
(1)
Holdings Weekly
changes
Repurchase
agreements
(3)
Reverse
repurchase
agreements
(3)
Within 15 days                 75,000          3,338       19,040     +   4,493       64,750         43,198  
16 days to 90 days             75,000         14,166       27,921     -   8,046       40,000              0  
91 days to 1 year                 ---              0       69,497     +      52          ---            ---  
Over 1 year to 5 years            ---            ---      175,563     +   2,880          ---            ---  
Over 5 years to 10 years          ---            ---       89,886     +      21          ---            ---  
Over 10 years                     ---            ---       97,424     +     725          ---            ---  
          
All                           150,000         17,504      479,330     +     124      104,750         43,198  
 

Note: Components may not sum to totals because of rounding.
--- Not applicable.
 

1. Excludes the loan from the Federal Reserve Bank of New York to Maiden Lane LLC that was eliminated when
preparing that Bank's statement of condition consistent with consolidation under generally accepted
accounting principles. The loan to Maiden Lane LLC is designed to be repaid from the orderly
liquidation of Maiden Lane LLC's portfolio holdings and does not have a fixed amortization schedule.
2. 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.
3. Cash value of agreements.
 

 

4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations
from
consolidation
  Change since
Wednesday
Aug 6, 2008
Wednesday
Jul 30, 2008
Wednesday
Aug 8, 2007
Assets                                                   
Gold certificate account                                         11,037                0                   0
Special drawing rights certificate account                        2,200                0                   0
Coin                                                              1,379        -       7           +     317
Securities, repurchase agreements, term auction          
      credit, and other loans                                   751,584        -  18,249           -  58,241
  Securities held outright                                      479,330        +     124           - 311,490
    U.S. Treasury (1)                                           479,330        +     124           - 311,490
      Bills (2)                                                  21,740                0           - 255,279
      Notes and bonds, nominal (2)                              411,731        -     661           -  61,647
      Notes and bonds, inflation-indexed (2)                     39,832        +     661           +   4,079
      Inflation compensation (3)                                  6,027        +     124           +   1,357
    Federal agency (2)                                                0                0                   0
  Repurchase agreements (4)                                     104,750        -  18,500           +  86,000
  Term auction credit                                           150,000                0           + 150,000
  Other loans                                                    17,504        +     127           +  17,249
Net portfolio holdings of Maiden Lane LLC (5)                    29,139        +      40           +  29,139
Items in process of collection                     (1,164)        2,514        +   1,709           -     613
Bank premises                                                     2,160        -       1           +      97
Other assets (6)                                                101,295        -     730           +  61,301
                                                         
      Total assets                                 (1,164)      901,307        -  17,239           +  31,998
                                                         
Liabilities                                              
Federal Reserve notes, net of F.R. Bank holdings                795,848        +     285           +  18,498
Reverse repurchase agreements (7)                                43,198        -   1,265           +  13,066
Deposits                                               (0)       16,065        -  17,352           -   2,429
  Depository institutions                                        10,862        -  17,850           -   2,594
  U.S. Treasury, general account                                  4,798        +     527           +     128
  Foreign official                                                  101                0           +       7
  Other                                                (0)          303        -      30           +      29
Deferred availability cash items                   (1,164)        4,169        +   1,433           +     419
Other liabilities and accrued dividends (8,9)                     1,712        -     273           -   4,193
                                                         
      Total liabilities                            (1,164)      860,992        -  17,171           +  25,361
                                                         
Capital accounts                                         
Capital paid in                                                  19,937                0           +   3,277
Surplus                                                          18,502        +       1           +   3,090
Other capital accounts                                            1,875        -      71           +     268
                                                         
      Total capital                                              40,315        -      68           +   6,637
 

Note: Components may not sum to totals because of rounding.
 

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer
to table 1A.
2. Face value of the securities.
3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed
securities.
4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
5. Fair value. Refer to table 2 and the note on consolidation accompanying table 5.
6. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.
7. Cash value of agreements, which are collateralized by U.S. Treasury securities.
8. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of
foreign exchange commitments.
9. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New
York, including liabilities that have recourse only to the portfolio holdings of Maiden Lane LLC.
Refer to the note on consolidation accompanying table 5.
 

 

5. Statement of Condition of Each Federal Reserve Bank, August 6, 2008
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Assets                                                             
Gold certificate account                      11,037         424       3,935         453         423         891       1,221         913         344         199         349         636       1,249 
Special drawing rights certificate acct.       2,200         115         874          83         104         147         166         212          71          30          66          98         234 
Coin                                           1,379          39          62          97         119         172         170         165          52          51          98         156         198 
Securities, repurchase agreements, term                            
      auction credit, and other loans        751,584      27,699     306,864      28,412      33,522      64,132      64,749      55,596      22,822      11,762      23,469      28,445      84,113 
  Securities held outright                   479,330      20,105     170,543      20,928      18,176      43,465      47,692      42,305      16,564       9,049      17,600      19,883      53,019 
    U.S. Treasury (1)                        479,330      20,105     170,543      20,928      18,176      43,465      47,692      42,305      16,564       9,049      17,600      19,883      53,019 
      Bills (2)                               21,740         912       7,735         949         824       1,971       2,163       1,919         751         410         798         902       2,405 
      Notes and bonds (3)                    457,590      19,193     162,808      19,979      17,352      41,493      45,529      40,387      15,813       8,639      16,802      18,981      50,614 
    Federal agency (2)                             0           0           0           0           0           0           0           0           0           0           0           0           0 
  Repurchase agreements (4)                  104,750       4,394      37,269       4,574       3,972       9,499      10,422       9,245       3,620       1,978       3,846       4,345      11,587 
  Term auction credit                        150,000       3,200      87,052       2,895      10,910      11,077       6,360       2,850       2,475          46       2,000       3,854      17,281 
  Other loans                                 17,504           0      12,000          15         464          92         274       1,195         163         689          23         363       2,226 
Net portfolio holdings of Maiden Lane                              
      LLC (5)                                 29,139           0      29,139           0           0           0           0           0           0           0           0           0           0 
Items in process of collection                 3,678         140           0         550         610         226         485         235          43         187         391         308         503 
Bank premises                                  2,160         120         212          65         150         208         226         208         126         111         275         252         207 
Other assets (6)                             101,295       5,458      27,808       8,989       6,546      24,393       8,054       5,062       1,390       1,936       1,472       2,329       7,858 
Interdistrict settlement account                   0     + 2,493     -43,732     + 2,455     - 3,667     - 6,285     +24,447     +14,623     + 4,620     + 2,843     + 4,905     + 2,924     - 5,627 
                                                                   
      Total assets                           902,471      36,488     325,162      41,103      37,807      83,885      99,518      77,014      29,468      17,119      31,025      35,148      88,735 
 

Note: Components may not sum to totals because of rounding.
 

1. Includes securities lent to dealers under the overnight and term securities lending facilities; refer to table 1A.
2. Face value of the securities.
3. 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.
4. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
5. Fair value. Refer to the note on consolidation below.
6. Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates.
 

Note on consolidation:
On June 26, 2008, the Federal Reserve Bank of New York extended a loan under the authority of section 13(3) of the Federal Reserve Act to Maiden Lane LLC, a limited liability company
formed to acquire certain assets of Bear Stearns. The Federal Reserve Bank of New York is the primary beneficiary of Maiden Lane LLC. Consistent with generally accepted accounting
principles, the assets and liabilities of Maiden Lane LLC have been consolidated with the assets and liabilities of the Federal Reserve Bank of New York in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the extension of credit from the Federal Reserve Bank of New York to Maiden Lane LLC is
eliminated, the net assets of Maiden Lane LLC appear as an asset in this table (and table 1 and table 4), and the liabilities of Maiden Lane LLC to entities other than the Federal
Reserve Bank of New York, including those with recourse only to the portfolio holdings of Maiden Lane LLC, are included in other liabilities on the next page (and in table 1 and
table 4).
 

 

5. Statement of Condition of Each Federal Reserve Bank, August 6, 2008 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City
Dallas San
Francisco
Liabilities                                                         
Federal Reserve notes outstanding             991,468      37,034     351,867      40,483      38,602      80,400     120,931      82,407      30,569      17,854      31,345      55,474     104,501 
  Less: Notes held by F.R. Banks              195,620       5,006      59,760       7,123       7,068      12,880      30,658      13,333       3,520       2,874       3,349      24,054      25,996 
    Federal Reserve notes, net                795,848      32,028     292,107      33,360      31,534      67,520      90,273      69,075      27,049      14,980      27,995      31,421      78,506 
Reverse repurchase agreements (1)              43,198       1,812      15,370       1,886       1,638       3,917       4,298       3,813       1,493         816       1,586       1,792       4,778 
Deposits                                       16,065         388       8,014         335         834       1,332         993         814         323         244         367         660       1,762 
  Depository institutions                      10,862         384       2,958         330         831       1,231         990         811         310         243         365         659       1,750 
  U.S. Treasury, general account                4,798           0       4,798           0           0           0           0           0           0           0           0           0           0 
  Foreign official                                101           2          71           4           3          11           3           2           0           1           0           1           3 
  Other                                           303           2         186           0           0          90           0           1          13           0           1           0          10 
Deferred availability cash items                5,333         275           0         905         957         412         437         433          92         298         518         448         559 
Other liabilities and accrued                                                 
  dividends (2,3)                               1,712         146        -632         161         166         407         353         281         131         102         124         182         291 
                                                                    
      Total liabilities                       862,156      34,649     314,859      36,647      35,129      73,588      96,354      74,416      29,088      16,438      30,589      34,502      85,896 
                                                                    
Capital                                                             
Capital paid in                                19,937         787       5,065       2,335       1,341       5,189       1,561       1,281         182         322         210         267       1,398 
Surplus                                        18,502       1,050       4,665       1,814       1,291       4,999       1,425         815         180         355         193         364       1,351 
Other capital                                   1,875           2         572         308          46         109         177         501          19           4          33          15          90 
                                                                    
      Total liabilities and capital              902,471    36,488    325,162    41,103    37,807    83,885    99,518    77,014    29,468    17,119    31,025    35,148    88,735 
                              
Note: Components may not sum to totals because of rounding.
 

1. Cash value of agreements, which are collateralized by U.S. Treasury securities.
2. Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments.
3. Includes the liabilities of Maiden Lane LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of
Maiden Lane LLC. Refer to the note on consolidation on the previous page.
 

 

6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Aug 6, 2008
                                                                                            
Federal Reserve notes outstanding                                                                991,468 
  Less: Notes held by F.R. Banks not subject to collateralization                                195,620 
    Federal Reserve notes to be collateralized                                                   795,848 
Collateral held against Federal Reserve notes                                                    795,848 
  Gold certificate account                                                                        11,037 
  Special drawing rights certificate account                                                       2,200 
  U.S. Treasury and agency securities pledged (1)                                                541,515 
  Other assets pledged                                                                           241,096 
                                                                                            
Memo:                                                                                       
Total U.S. Treasury and agency securities (1)                                                    584,080 
  Less: Face value of securities under reverse repurchase agreements                              42,564 
    U.S. Treasury and agency securities eligible to be pledged                                   541,515 
   
Note: Components may not sum to totals because of rounding.
 

1. Includes face value of U.S. Treasury and agency 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.

Release dates
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)

Statistical releases