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Release Date: January 03, 2019
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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 3, 2019
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jan 2, 2019
Federal Reserve Banks Jan 2, 2019 Dec 26, 2018 Jan 3, 2018
Reserve Bank credit 4,029,010 - 14,972 - 378,624 4,019,072
Securities held outright (1) 3,872,472 - 14,136 - 349,342 3,862,049
U.S. Treasury securities 2,232,940 - 7,758 - 219,555 2,222,517
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,093,992 - 7,804 - 228,698 2,083,586
Notes and bonds, inflation-indexed (2) 116,545 0 + 6,411 116,545
Inflation compensation (3) 22,403 + 46 + 2,732 22,386
Federal agency debt securities (2) 2,409 0 - 1,982 2,409
Mortgage-backed securities (4) 1,637,123 - 6,378 - 127,806 1,637,123
Unamortized premiums on securities held outright (5) 140,106 - 419 - 18,643 140,008
Unamortized discounts on securities held outright (5) -13,430 + 29 + 688 -13,418
Repurchase agreements (6) 0 0 0 0
Loans 64 - 38 - 53 6
Primary credit 14 - 24 - 83 5
Secondary credit 0 0 0 0
Seasonal credit 50 - 14 + 29 1
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,713 0
Float -603 - 365 + 131 -140
Central bank liquidity swaps (8) 4,207 0 - 7,852 4,207
Other Federal Reserve assets (9) 26,193 - 43 - 1,841 26,359
Foreign currency denominated assets (10) 20,947 + 100 - 476 20,999
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 49,873 + 14 + 492 49,873
Total factors supplying reserve funds 4,116,071 - 14,859 - 378,608 4,106,185
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Jan 2, 2019
Federal Reserve Banks Jan 2, 2019 Dec 26, 2018 Jan 3, 2018
Currency in circulation (11) 1,719,151 + 6,625 + 101,139 1,720,052
Reverse repurchase agreements (12) 266,620 + 14,677 - 223,386 276,394
Foreign official and international accounts 250,061 + 5,670 + 3,690 256,913
Others 16,558 + 9,006 - 227,077 19,481
Treasury cash holdings 214 + 8 - 2 214
Deposits with F.R. Banks, other than reserve balances 463,176 + 3,084 + 170,470 458,581
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 379,902 + 5,817 + 168,336 382,616
Foreign official 5,244 - 135 - 11 5,244
Other (13) 78,031 - 2,597 + 2,147 70,720
Other liabilities and capital (14) 45,055 + 115 - 2,754 43,610
Total factors, other than reserve balances,
absorbing reserve funds 2,494,215 + 24,509 + 45,466 2,498,850
Reserve balances with Federal Reserve Banks 1,621,856 - 39,367 - 424,074 1,607,335
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. 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.
6. Cash value of agreements.
7. Refer to the note on consolidation accompanying table 5.
8. 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.
9. 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.
10. Revalued daily at current foreign currency exchange rates.
11. Estimated.
12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
13. 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.
14. Includes the liability for earnings remittances due to the U.S. Treasury.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Jan 2, 2019
Jan 2, 2019 Dec 26, 2018 Jan 3, 2018
Securities held in custody for foreign official and
international accounts 3,388,981 - 7,927 + 33,223 3,383,715
Marketable U.S. Treasury securities (1) 3,015,780 - 7,387 + 588 3,010,531
Federal agency debt and mortgage-backed securities (2) 307,126 - 438 + 44,384 307,113
Other securities (3) 66,075 - 102 - 11,749 66,071
Securities lent to dealers 24,505 + 1,792 - 687 28,728
Overnight facility (4) 24,505 + 1,792 - 687 28,728
U.S. Treasury securities 24,505 + 1,792 - 687 28,728
Federal agency debt securities 0 0 0 0
Note: Components may not sum to totals because of rounding.
1. 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.
2. Face value of federal agency securities and current face value of mortgage-backed securities, which
is the remaining principal balance of the securities.
3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed
securities, and commercial paper at face value.
4. Face value. Fully collateralized by U.S. Treasury securities.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, January 2, 2019
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans 5 1 0 0 0 ... 6
U.S. Treasury securities (1)
Holdings 2,091 92,622 290,222 958,061 260,887 618,634 2,222,517
Weekly changes - 16,118 + 20,288 - 11,899 - 6,756 - 3,720 + 4 - 18,200
Federal agency debt securities (2)
Holdings 0 62 0 0 0 2,347 2,409
Weekly changes 0 + 62 - 62 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 4 218 62,701 1,574,199 1,637,123
Weekly changes 0 0 0 + 4 - 6 + 1 0
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 4,207 0 0 0 0 0 4,207
Reverse repurchase agreements (4) 276,394 0 ... ... ... ... 276,394
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
...Not applicable.
1. 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.
2. Face value.
3. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
4. Cash value of agreements.
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.
3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Jan 2, 2019
Mortgage-backed securities held outright (1) 1,637,123
Commitments to buy mortgage-backed securities (2) 288
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 0
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.
4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jan 2, 2019 Wednesday Wednesday
consolidation Dec 26, 2018 Jan 3, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,722 - 4 - 173
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 3,988,645 - 18,490 - 373,421
Securities held outright (1) 3,862,049 - 18,200 - 355,479
U.S. Treasury securities 2,222,517 - 18,200 - 225,691
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,083,586 - 18,210 - 234,818
Notes and bonds, inflation-indexed (2) 116,545 0 + 6,411
Inflation compensation (3) 22,386 + 10 + 2,716
Federal agency debt securities (2) 2,409 0 - 1,982
Mortgage-backed securities (4) 1,637,123 0 - 127,806
Unamortized premiums on securities held outright
(5) 140,008 - 249 - 18,632
Unamortized discounts on securities held outright
(5) -13,418 + 30 + 728
Repurchase agreements (6) 0 0 0
Loans 6 - 71 - 38
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,713
Items in process of collection (0) 209 - 30 + 40
Bank premises 2,202 - 4 - 1
Central bank liquidity swaps (8) 4,207 0 - 7,860
Foreign currency denominated assets (9) 20,999 + 125 - 441
Other assets (10) 24,158 + 1,147 - 1,769
Total assets (0) 4,058,378 - 17,258 - 385,340
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Jan 2, 2019 Wednesday Wednesday
consolidation Dec 26, 2018 Jan 3, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,672,109 + 3,903 + 100,837
Reverse repurchase agreements (11) 276,394 + 31,574 - 107,596
Deposits (0) 2,065,917 - 51,803 - 375,346
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,607,336 - 53,596 - 587,315
U.S. Treasury, General Account 382,616 + 14,380 + 212,659
Foreign official 5,244 - 947 - 9
Other (12) (0) 70,720 - 11,641 - 682
Deferred availability cash items (0) 349 - 102 + 24
Other liabilities and accrued dividends (13) 4,477 - 803 - 1,004
Total liabilities (0) 4,019,245 - 17,231 - 383,085
Capital accounts
Capital paid in 32,308 - 27 + 921
Surplus 6,825 0 - 3,175
Other capital accounts 0 0 0
Total capital 39,133 - 27 - 2,254
Note: Components may not sum to totals because of rounding.
1. Includes securities lent to dealers under the overnight securities lending facility; 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. 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.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to the note on consolidation accompanying table 5.
8. 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.
9. Revalued daily at current foreign currency exchange rates.
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other
accounts receivable.
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt
securities, and mortgage-backed securities.
12. 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.
13. Includes the liability for earnings remittances due to the U.S. Treasury.
5. Statement of Condition of Each Federal Reserve Bank, January 2, 2019
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Assets
Gold certificate account 11,037 364 3,626 350 544 773 1,491 739 334 199 307 905 1,405
Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
Coin 1,722 41 38 148 124 236 181 285 26 46 110 195 291
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 3,988,645 76,179 2,202,038 100,705 113,079 236,032 239,425 213,628 53,102 33,286 62,791 164,929 493,451
Securities held outright (1) 3,862,049 73,761 2,132,150 97,509 109,490 228,541 231,826 206,843 51,417 32,229 60,798 159,695 477,790
U.S. Treasury securities 2,222,517 42,448 1,227,002 56,114 63,009 131,520 133,410 119,033 29,589 18,547 34,988 91,901 274,957
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,222,517 42,448 1,227,002 56,114 63,009 131,520 133,410 119,033 29,589 18,547 34,988 91,901 274,957
Federal agency debt securities (2) 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298
Mortgage-backed securities (4) 1,637,123 31,267 903,819 41,334 46,413 96,879 98,271 87,681 21,796 13,662 25,772 67,695 202,535
Unamortized premiums on securities held
outright (5) 140,008 2,674 77,295 3,535 3,969 8,285 8,404 7,499 1,864 1,168 2,204 5,789 17,321
Unamortized discounts on securities
held outright (5) -13,418 -256 -7,408 -339 -380 -794 -805 -719 -179 -112 -211 -555 -1,660
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 6 0 0 0 0 0 0 5 0 1 0 0 0
Net portfolio holdings of Maiden
Lane LLC (7) 0 0 0 0 0 0 0 0 0 0 0 0 0
Items in process of collection 209 0 0 0 0 0 208 0 0 1 0 0 0
Bank premises 2,202 110 455 81 118 194 206 193 107 95 232 220 192
Central bank liquidity swaps (8) 4,207 179 1,326 239 340 909 243 178 61 19 42 52 619
Foreign currency denominated
assets (9) 20,999 890 6,681 1,188 1,688 4,517 1,208 886 302 96 207 259 3,078
Other assets (10) 24,158 490 12,904 606 702 1,658 1,456 1,271 401 264 444 1,000 2,962
Interdistrict settlement account 0 + 16,923 - 116,558 + 706 + 147 + 1,064 + 43,278 + 9,040 + 9,163 + 3,849 + 1,469 + 14,097 + 16,821
Total assets 4,058,378 95,371 2,112,329 104,232 116,978 245,794 288,350 226,646 63,646 37,944 65,755 181,940 519,393
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Statement of Condition of Each Federal Reserve Bank, January 2, 2019 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas Dallas San
City Francisco
Liabilities
Federal Reserve notes outstanding 1,861,321 58,004 615,425 54,943 88,760 125,753 261,759 121,940 56,081 31,546 49,996 150,885 246,229
Less: Notes held by F.R. Banks 189,212 5,736 55,129 6,566 7,834 12,538 28,226 13,674 5,057 2,536 5,429 17,005 29,481
Federal Reserve notes, net 1,672,109 52,268 560,296 48,376 80,925 113,216 233,533 108,266 51,024 29,010 44,567 133,880 216,748
Reverse repurchase agreements (11) 276,394 5,279 152,591 6,978 7,836 16,356 16,591 14,803 3,680 2,307 4,351 11,429 34,194
Deposits 2,065,917 35,977 1,385,257 46,440 24,904 107,365 35,434 101,611 8,213 6,164 16,335 35,931 262,286
Term deposits held by depository
institutions 0 0 0 0 0 0 0 0 0 0 0 0 0
Other deposits held by depository
institutions 1,607,336 35,956 977,465 46,437 24,877 106,865 35,368 53,306 8,206 6,004 14,719 35,855 262,278
U.S. Treasury, General Account 382,616 0 382,616 0 0 0 0 0 0 0 0 0 0
Foreign official 5,244 2 5,217 2 3 9 2 2 1 0 0 0 6
Other (12) 70,720 19 19,959 1 24 491 64 48,303 6 160 1,616 76 1
Deferred availability cash items 349 0 0 0 0 0 211 0 0 138 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 172 3 123 -1 -5 -11 22 11 3 4 4 16 3
Other liabilities and accrued
dividends 4,305 161 1,651 183 185 499 284 317 135 137 131 211 411
Total liabilities 4,019,245 93,688 2,099,917 101,976 113,846 237,425 286,075 225,007 63,054 37,759 65,389 181,468 513,642
Capital
Capital paid in 32,308 1,393 10,260 1,868 2,581 6,895 1,881 1,350 493 154 299 388 4,747
Surplus 6,825 290 2,151 388 551 1,474 394 289 98 31 68 84 1,005
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 4,058,378 95,371 2,112,329 104,232 116,978 245,794 288,350 226,646 63,646 37,944 65,755 181,940 519,393
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Statement of Condition of Each Federal Reserve Bank, January 2, 2019 (continued)
1. Includes securities lent to dealers under the overnight securities lending facility; 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. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.
5. 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.
6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
7. Refer to the note on consolidation below.
8. 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.
9. Revalued daily at current foreign currency exchange rates.
10. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.
11. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
12. 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.
13. 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).
6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Jan 2, 2019
Federal Reserve notes outstanding 1,861,321
Less: Notes held by F.R. Banks not subject to collateralization 189,212
Federal Reserve notes to be collateralized 1,672,109
Collateral held against Federal Reserve notes 1,672,109
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,655,873
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,862,049
Less: Face value of securities under reverse repurchase agreements 275,244
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,586,805
Note: Components may not sum to totals because of rounding.
1. 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.
2. Includes securities lent to dealers under the overnight securities lending facility; refer to table
1A.
Release dates | Data Download Program (DDP) |
About |
Announcements |
Technical Q&As
Current release Other formats:
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ASCII |
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(21 KB)
Statistical releases