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Release Date: February 28, 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 February 28, 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 Feb 27, 2019
Federal Reserve Banks Feb 27, 2019 Feb 20, 2019 Feb 28, 2018
Reserve Bank credit 3,939,793 - 12,320 - 426,300 3,934,831
Securities held outright (1) 3,795,931 - 9,849 - 404,783 3,792,109
U.S. Treasury securities 2,182,132 - 3,430 - 248,883 2,182,092
Bills (2) 0 0 0 0
Notes and bonds, nominal (2) 2,046,102 - 3,327 - 256,027 2,046,102
Notes and bonds, inflation-indexed (2) 114,769 0 + 5,026 114,769
Inflation compensation (3) 21,261 - 103 + 2,118 21,221
Federal agency debt securities (2) 2,409 0 - 1,982 2,409
Mortgage-backed securities (4) 1,611,390 - 6,419 - 153,918 1,607,609
Unamortized premiums on securities held outright (5) 137,302 - 462 - 19,007 137,099
Unamortized discounts on securities held outright (5) -13,230 + 22 + 863 -13,218
Repurchase agreements (6) 0 0 0 0
Loans 23 + 4 0 12
Primary credit 13 + 8 + 5 3
Secondary credit 0 0 0 0
Seasonal credit 10 - 4 - 4 9
Other credit extensions 0 0 0 0
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,710 0
Float -273 - 106 + 98 -897
Central bank liquidity swaps (8) 88 + 20 + 16 88
Other Federal Reserve assets (9) 19,952 - 1,949 - 1,779 19,637
Foreign currency denominated assets (10) 20,780 + 47 - 1,356 20,792
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 49,874 + 14 + 434 49,874
Total factors supplying reserve funds 4,026,688 - 12,258 - 427,223 4,021,738
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 Feb 27, 2019
Federal Reserve Banks Feb 27, 2019 Feb 20, 2019 Feb 28, 2018
Currency in circulation (11) 1,710,884 - 9 + 87,760 1,712,356
Reverse repurchase agreements (12) 253,532 + 4,603 - 1,802 251,348
Foreign official and international accounts 249,700 + 4,580 + 16,872 249,433
Others 3,832 + 22 - 18,674 1,915
Treasury cash holdings 300 + 19 + 5 312
Deposits with F.R. Banks, other than reserve balances 376,293 - 25,926 + 79,144 330,718
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 310,574 - 23,322 + 107,954 266,024
Foreign official 5,244 0 - 10 5,243
Other (13) 60,475 - 2,604 - 28,800 59,451
Other liabilities and capital (14) 44,929 + 885 - 133 44,794
Total factors, other than reserve balances,
absorbing reserve funds 2,385,938 - 20,429 + 164,974 2,339,528
Reserve balances with Federal Reserve Banks 1,640,750 + 8,170 - 592,197 1,682,210
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 Feb 27, 2019
Feb 27, 2019 Feb 20, 2019 Feb 28, 2018
Securities held in custody for foreign official and
international accounts 3,442,315 + 10,428 + 23,983 3,452,721
Marketable U.S. Treasury securities (1) 3,046,954 + 10,404 - 27,451 3,057,282
Federal agency debt and mortgage-backed securities (2) 324,007 - 681 + 60,535 323,824
Other securities (3) 71,353 + 704 - 9,102 71,615
Securities lent to dealers 22,568 - 274 - 3,917 21,030
Overnight facility (4) 22,568 - 274 - 3,917 21,030
U.S. Treasury securities 22,568 - 274 - 3,917 21,030
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, February 27, 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 12 0 0 0 0 ... 12
U.S. Treasury securities (1)
Holdings 12,529 92,780 274,117 930,742 254,779 617,145 2,182,092
Weekly changes 0 0 - 1 - 15 - 40 - 52 - 109
Federal agency debt securities (2)
Holdings 0 62 0 0 0 2,347 2,409
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (3)
Holdings 0 0 4 204 63,771 1,543,631 1,607,609
Weekly changes 0 0 0 - 8 - 788 - 5,744 - 6,541
Repurchase agreements (4) 0 0 ... ... ... ... 0
Central bank liquidity swaps (5) 88 0 0 0 0 0 88
Reverse repurchase agreements (4) 251,348 0 ... ... ... ... 251,348
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
Feb 27, 2019
Mortgage-backed securities held outright (1) 1,607,609
Commitments to buy mortgage-backed securities (2) 286
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 Feb 27, 2019 Wednesday Wednesday
consolidation Feb 20, 2019 Feb 28, 2018
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,782 - 16 - 137
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 3,916,003 - 7,072 - 414,544
Securities held outright (1) 3,792,109 - 6,650 - 396,495
U.S. Treasury securities 2,182,092 - 109 - 242,150
Bills (2) 0 0 0
Notes and bonds, nominal (2) 2,046,102 0 - 247,783
Notes and bonds, inflation-indexed (2) 114,769 0 + 3,549
Inflation compensation (3) 21,221 - 109 + 2,084
Federal agency debt securities (2) 2,409 0 - 1,982
Mortgage-backed securities (4) 1,607,609 - 6,541 - 152,363
Unamortized premiums on securities held outright
(5) 137,099 - 445 - 18,945
Unamortized discounts on securities held outright
(5) -13,218 + 32 + 910
Repurchase agreements (6) 0 0 0
Loans 12 - 11 - 15
Net portfolio holdings of Maiden Lane LLC (7) 0 0 - 1,708
Items in process of collection (0) 52 - 22 - 47
Bank premises 2,205 + 2 - 1
Central bank liquidity swaps (8) 88 + 20 + 16
Foreign currency denominated assets (9) 20,792 - 15 - 1,297
Other assets (10) 17,432 + 274 - 1,091
Total assets (0) 3,974,590 - 6,830 - 418,811
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 Feb 27, 2019 Wednesday Wednesday
consolidation Feb 20, 2019 Feb 28, 2018
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,664,572 + 303 + 84,587
Reverse repurchase agreements (11) 251,348 - 3,831 - 26,110
Deposits (0) 2,012,928 - 4,842 - 477,067
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 1,682,210 + 62,465 - 526,098
U.S. Treasury, General Account 266,024 - 64,979 + 66,634
Foreign official 5,243 0 - 12
Other (12) (0) 59,451 - 2,328 - 17,592
Deferred availability cash items (0) 948 + 684 + 42
Other liabilities and accrued dividends (13) 5,634 + 851 - 259
Total liabilities (0) 3,935,431 - 6,834 - 418,806
Capital accounts
Capital paid in 32,335 + 5 + 671
Surplus 6,825 0 - 675
Other capital accounts 0 0 0
Total capital 39,160 + 5 - 4
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, February 27, 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 1,782 48 50 154 122 234 188 294 33 46 114 197 301
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans 3,916,003 74,791 2,161,930 98,871 111,020 231,733 235,064 209,740 52,135 32,682 61,647 161,925 484,464
Securities held outright (1) 3,792,109 72,425 2,093,538 95,743 107,508 224,402 227,628 203,097 50,486 31,645 59,697 156,803 469,137
U.S. Treasury securities 2,182,092 41,676 1,204,684 55,093 61,863 129,128 130,984 116,868 29,051 18,210 34,351 90,229 269,956
Bills (2) 0 0 0 0 0 0 0 0 0 0 0 0 0
Notes and bonds (3) 2,182,092 41,676 1,204,684 55,093 61,863 129,128 130,984 116,868 29,051 18,210 34,351 90,229 269,956
Federal agency debt securities (2) 2,409 46 1,330 61 68 143 145 129 32 20 38 100 298
Mortgage-backed securities (4) 1,607,609 30,704 887,525 40,589 45,576 95,132 96,500 86,100 21,403 13,415 25,308 66,474 198,884
Unamortized premiums on securities held
outright (5) 137,099 2,618 75,689 3,461 3,887 8,113 8,230 7,343 1,825 1,144 2,158 5,669 16,961
Unamortized discounts on securities
held outright (5) -13,218 -252 -7,297 -334 -375 -782 -793 -708 -176 -110 -208 -547 -1,635
Repurchase agreements (6) 0 0 0 0 0 0 0 0 0 0 0 0 0
Loans 12 0 0 0 0 0 0 8 0 3 0 0 1
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 52 0 0 0 0 0 51 0 0 0 0 0 0
Bank premises 2,205 107 461 81 119 194 206 193 106 95 231 220 192
Central bank liquidity swaps (8) 88 4 28 5 7 19 5 4 1 0 1 1 13
Foreign currency denominated
assets (9) 20,792 885 6,556 1,181 1,678 4,491 1,201 881 300 95 206 257 3,060
Other assets (10) 17,432 351 9,001 431 494 1,267 1,032 897 490 186 329 850 2,104
Interdistrict settlement account 0 + 6,781 - 145,083 + 4,453 + 10,579 + 13,217 + 45,466 + 2,292 + 11,915 + 7,029 - 475 + 22,351 + 21,476
Total assets 3,974,590 83,527 2,038,387 105,736 124,800 252,339 285,359 215,464 65,463 40,423 62,513 186,990 513,588
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, February 27, 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 1,870,289 57,528 617,961 54,639 89,301 125,889 260,873 121,329 55,705 31,298 49,644 154,769 251,354
Less: Notes held by F.R. Banks 205,716 6,672 55,778 7,291 9,900 14,583 32,595 14,306 4,814 3,067 6,603 17,835 32,273
Federal Reserve notes, net 1,664,572 50,856 562,183 47,348 79,401 111,307 228,278 107,022 50,891 28,230 43,041 136,934 219,081
Reverse repurchase agreements (11) 251,348 4,800 138,764 6,346 7,126 14,874 15,088 13,462 3,346 2,097 3,957 10,393 31,095
Deposits 2,012,928 25,992 1,322,551 49,560 34,925 117,215 39,277 92,987 10,485 8,863 14,992 38,921 257,158
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 1,682,210 25,977 1,032,270 49,557 34,901 116,883 39,242 53,184 10,474 8,812 14,970 38,789 257,151
U.S. Treasury, General Account 266,024 0 266,024 0 0 0 0 0 0 0 0 0 0
Foreign official 5,243 2 5,216 2 3 9 2 2 1 0 0 0 6
Other (12) 59,451 14 19,042 1 21 324 34 39,801 11 51 21 132 2
Deferred availability cash items 948 0 0 0 0 0 53 0 0 895 0 0 0
Earnings remittances due to the U.S.
Treasury (13) 793 18 418 14 28 31 78 37 5 9 20 52 85
Other liabilities and accrued
dividends 4,841 173 2,028 204 192 560 296 318 126 141 138 216 448
Total liabilities 3,935,431 81,839 2,025,943 103,472 121,671 243,988 283,070 213,826 64,853 40,236 62,148 186,516 507,868
Capital
Capital paid in 32,335 1,394 10,278 1,869 2,583 6,896 1,892 1,354 507 154 299 390 4,718
Surplus 6,825 294 2,166 394 545 1,455 397 285 104 32 66 84 1,002
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 3,974,590 83,527 2,038,387 105,736 124,800 252,339 285,359 215,464 65,463 40,423 62,513 186,990 513,588
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, February 27, 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
Feb 27, 2019
Federal Reserve notes outstanding 1,870,289
Less: Notes held by F.R. Banks not subject to collateralization 205,716
Federal Reserve notes to be collateralized 1,664,572
Collateral held against Federal Reserve notes 1,664,572
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,648,335
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 3,792,109
Less: Face value of securities under reverse repurchase agreements 251,341
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 3,540,768
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:
Screen reader |
ASCII |
PDF
(21 KB)
Statistical releases