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Release Date: August 31, 2023

 

 

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

 

 

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 30, 2023

Week ended
Aug 30, 2023

Change from week ended

Aug 23, 2023

Aug 31, 2022

Reserve Bank credit

 8,087,436

-   19,854

-  709,489

 8,084,524

Securities held outright1

 7,509,968

-   14,304

-  902,182

 7,508,057

U.S. Treasury securities

 5,006,713

+      409

-  693,822

 5,006,839

Bills2

   259,422

         0

-   66,622

   259,422

Notes and bonds, nominal2

 4,273,034

+       64

-  627,063

 4,273,034

Notes and bonds, inflation-indexed2

   364,549

         0

-   10,319

   364,549

Inflation compensation3

   109,708

+      345

+   10,181

   109,835

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,500,909

-   14,713

-  208,359

 2,498,870

Unamortized premiums on securities held outright5

   290,449

-      916

-   37,018

   290,201

Unamortized discounts on securities held outright5

   -27,517

+       74

-      957

   -27,422

Repurchase agreements6

         1

-        3

+        1

         1

Foreign official

         1

-        3

+        1

         1

Others

         0

         0

         0

         0

Loans

   251,356

-    3,826

+  231,650

   250,565

Primary credit

     2,204

+      267

-    2,390

     2,907

Secondary credit

         0

         0

         0

         0

Seasonal credit

        67

+        6

+       18

        70

Paycheck Protection Program Liquidity Facility

     5,750

-      250

-    9,313

     5,693

Bank Term Funding Program

   107,301

+       33

+  107,301

   107,527

Other credit extensions7

   136,034

-    3,882

+  136,034

   134,369

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8

    19,515

+       16

-    6,404

    19,534

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,615

+        2

+       61

     5,618

Net portfolio holdings of TALF II LLC8

     1,581

+        1

-      576

     1,583

Float

      -273

-      105

+      104

      -753

Central bank liquidity swaps9

       232

+        2

+       61

       232

Other Federal Reserve assets10

    36,507

-      797

+    5,769

    36,910

Foreign currency denominated assets11

    18,195

-       75

+      650

    18,316

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,364

+       14

+    1,407

    52,364

 

 

 

 

 

Total factors supplying reserve funds

 8,174,235

-   19,916

-  707,433

 8,171,445

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

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

Averages of daily figures

Wednesday
Aug 30, 2023

Week ended
Aug 30, 2023

Change from week ended

Aug 23, 2023

Aug 31, 2022

Currency in circulation12

 2,328,310

-      175

+   52,589

 2,331,504

Reverse repurchase agreements13

 1,988,594

-  123,791

-  471,797

 1,998,323

Foreign official and international accounts

   289,671

-    7,665

+   26,488

   301,504

Others

 1,698,923

-  116,125

-  498,284

 1,696,819

Treasury cash holdings

       317

+        7

+      218

       327

Deposits with F.R. Banks, other than reserve balances

   650,142

+   58,554

-  180,942

   675,819

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   470,800

+   57,013

-  141,736

   500,702

Foreign official

     9,792

+      106

+    2,261

    10,412

Other14

   169,549

+    1,433

-   41,468

   164,705

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -44,830

-    6,066

-   92,610

   -44,427

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,935,891

-   71,471

-  697,123

 4,974,904

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,238,345

+   51,556

-   10,309

 3,196,542

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.

Includes outstanding loans to depository institutions that were subsequently placed into Federal Deposit Insurance Corporation (FDIC) receivership, including depository institutions established by the FDIC. The Federal Reserve Banks' loans to these depository institutions are secured by pledged collateral and the FDIC provides repayment guarantees.

8.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

9.

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.

10.

Includes bank premises, accrued interest, and other accounts receivable.

11.

Revalued daily at current foreign currency exchange rates.

12.

Estimated.

13.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

14.

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.

15.

Book value. Amount of equity investments in MS Facilities LLC of $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 billion.

16.

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

Averages of daily figures

Wednesday
Aug 30, 2023

Week ended
Aug 30, 2023

Change from week ended

Aug 23, 2023

Aug 31, 2022

Securities held in custody for foreign official and international accounts

 3,435,861

-    4,476

+   45,011

 3,434,025

Marketable U.S. Treasury securities1

 3,002,231

-    3,460

+    8,471

 3,000,447

Federal agency debt and mortgage-backed securities2

   351,444

-    1,109

+   38,613

   351,327

Other securities3

    82,186

+       93

-    2,074

    82,251

Securities lent to dealers

    36,514

-    1,466

-      293

    42,811

Overnight facility4

    36,514

-    1,466

-      293

    42,811

U.S. Treasury securities

    36,514

-    1,466

-      293

    42,811

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, 5, and 6.

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.


 

 

 


 

H.4.1

 

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, August 30, 2023

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans1

   136,593

     3,160

   105,123

     5,688

         0

...

   250,565

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    65,077

   255,130

   634,521

 1,719,220

   832,030

 1,500,862

 5,006,839

Weekly changes

-    3,067

+    3,498

-      410

+      150

+       79

+       94

+      345

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,347

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         0

        11

     9,087

    42,759

 2,447,012

 2,498,870

Weekly changes

         0

-        1

-        2

-      175

-      935

-   13,158

-   14,270

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

     9,930

...

...

     9,930

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       193

       201

         0

...

...

       393

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       232

         0

         0

         0

         0

         0

       232

Reverse repurchase agreements8

 1,998,323

         0

...

...

...

...

 1,998,323

Term deposits

         0

         0

         0

...

...

...

         0

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

 

1.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF), Bank Term Funding Program, and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Additionally, the Within 15 days category includes outstanding loans to depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, pledged collateral securing the loans, and the FDIC repayment guarantees. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with consolidation under generally accepted accounting principles.

2.

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.

3.

Face value.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5.

Book value of the loan participations held by the MS Facilities LLC.

6.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

7.

Book value of the loans held by the TALF II LLC.

8.

Cash value of agreements.

9.

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

Aug 30, 2023

Mortgage-backed securities held outright1

 2,498,870

Residential mortgage-backed securities

 2,490,505

Commercial mortgage-backed securities

     8,365

 

 

Commitments to buy mortgage-backed securities2

       150

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         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. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.


 

 


 

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:

Wednesday Aug 30, 2023

 

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

MS Facilities LLC (Main Street Lending Program)

     9,011

     8,981

    10,553

    19,534

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,711

     5,618

TALF II LLC

       744

       393

     1,189

     1,583

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

1.

Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity.

2.

Outstanding amount of facility asset purchases:

 

a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 

    updated as of June 30, 2023.

 

b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 

    a one-day lag after the transaction date.

 

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3.

Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.

 

 


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Aug 30, 2023

Change since

Wednesday

Wednesday

Aug 23, 2023

Aug 31, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,418

-       12

+      136

Securities, unamortized premiums and discounts, repurchase agreements, and loans

 

 8,021,402

-   16,791

-  706,017

Securities held outright1

 

 7,508,057

-   13,924

-  898,575

U.S. Treasury securities

 

 5,006,839

+      345

-  688,158

Bills2

 

   259,422

         0

-   66,622

Notes and bonds, nominal2

 

 4,273,034

         0

-  620,040

Notes and bonds, inflation-indexed2

 

   364,549

         0

-   11,212

Inflation compensation3

 

   109,835

+      346

+    9,717

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,498,870

-   14,270

-  210,418

Unamortized premiums on securities held outright5

 

   290,201

-      880

-   37,060

Unamortized discounts on securities held outright5

 

   -27,422

+       76

-      682

Repurchase agreements6

 

         1

+        1

+        1

Loans7

 

   250,565

-    2,064

+  230,299

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)8

 

    19,534

+       22

-    6,399

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,618

+        3

+       62

Net portfolio holdings of TALF II LLC8

 

     1,583

+        2

-      561

Items in process of collection

(0)

        66

+       10

+        3

Bank premises

 

       464

+       11

-      147

Central bank liquidity swaps9

 

       232

+        2

+       61

Foreign currency denominated assets10

 

    18,316

+       15

+      741

Other assets11

 

    36,448

-    1,009

+    7,346

 

 

 

 

 

Total assets

(0)

 8,121,316

-   17,750

-  704,777

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Aug 30, 2023

Change since

Wednesday

Wednesday

Aug 23, 2023

Aug 31, 2022

Liabilities

 

 

 

 

Federal Reserve notes, net of F.R. Bank holdings

 

 2,280,881

+    3,360

+   52,049

Reverse repurchase agreements12

 

 1,998,323

-  114,191

-  529,961

Deposits

(0)

 3,872,362

+   98,449

-  129,771

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,196,543

+   19,163

+   80,694

U.S. Treasury, General Account

 

   500,702

+   84,671

-  169,209

Foreign official

 

    10,412

+      726

+    2,295

Other13

(0)

   164,705

-    6,111

-   43,551

Deferred availability cash items

(0)

       819

+      538

-      331

Treasury contributions to credit facilities14

 

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

 

   -87,146

-    5,905

-   93,098

 

 

 

 

 

Total liabilities

(0)

 8,078,597

-   17,750

-  705,695

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,934

         0

+      918

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,719

         0

+      918

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.

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions.

8.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

9.

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.

10.

Revalued daily at current foreign currency exchange rates.

11.

Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

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.

Book value. Amount of equity investments in MS Facilities LLC of $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 billion.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 30, 2023

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 certificates and special drawing rights certificates

    16,237

       557

     5,175

       525

       752

     1,187

     2,287

     1,104

       479

       264

       452

     1,290

     2,165

Coin

     1,418

        39

        46

       131

        58

       183

       112

       256

        32

        44

        89

       178

       250

Securities, unamortized premiums and discounts, repurchase agreements,
and loans1

 8,021,402

   154,341

 4,369,743

   130,256

   242,477

   547,540

   533,118

   490,183

   123,563

    60,295

   109,431

   391,564

   868,890

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    19,534

    19,534

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,618

         0

     5,618

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,583

         0

     1,583

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       232

        10

        82

         8

        22

        47

         7

         8

         5

         1

         2

         5

        33

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,316

       788

     6,518

       658

     1,727

     3,709

       549

       638

       412

       116

       194

       386

     2,621

Other assets5

    36,977

       787

    15,899

       644

     1,064

     2,670

     3,572

     2,004

       839

       510

       844

     1,781

     6,363

Interdistrict settlement account

         0

-    2,730

-  161,869

-    5,690

+   47,214

+  230,816

+    8,010

-   41,444

-    5,378

-      567

-    9,520

-   32,002

-   26,842

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,121,316

   173,326

 4,242,795

   126,533

   293,315

   786,151

   547,655

   452,749

   119,953

    60,663

   101,493

   363,203

   853,481

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 30, 2023 (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, net

 2,280,881

    81,081

   720,368

    54,910

   112,549

   168,131

   353,376

   125,136

    72,795

    34,378

    49,667

   190,256

   318,234

Reverse repurchase agreements6

 1,998,323

    38,607

 1,115,964

    32,935

    61,409

   139,062

   135,375

   124,568

    29,893

    13,549

    25,836

    97,432

   183,691

Deposits

 3,872,362

    42,956

 2,447,551

    37,856

   117,730

   482,867

    56,371

   208,034

    16,289

    12,524

    25,703

    75,832

   348,649

Depository institutions

 3,196,543

    42,901

 1,885,572

    37,855

   117,700

   482,466

    56,343

    95,027

    16,279

    12,417

    25,666

    75,693

   348,623

U.S. Treasury, General Account

   500,702

         0

   500,702

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

    10,412

         2

    10,386

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   164,705

        53

    50,891

         0

        27

       392

        27

   113,005

         9

       106

        37

       138

        20

Earnings remittances due to the U.S. Treasury8

   -95,121

    -1,811

   -63,063

      -851

    -3,130

   -13,412

        -3

    -7,482

      -120

      -170

      -361

    -1,552

    -3,167

Treasury contributions to credit facilities9

    13,358

     9,684

     3,674

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     8,794

     1,001

     3,432

       169

       281

     1,020

     1,122

       463

       131

       113

       182

       234

       646

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,078,597

   171,518

 4,227,926

   125,020

   288,840

   777,668

   546,240

   450,719

   118,988

    60,394

   101,028

   362,202

   848,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,934

     1,516

    12,455

     1,269

     3,834

     7,109

     1,212

     1,794

       812

       226

       393

       858

     4,456

Surplus

     6,785

       292

     2,414

       244

       640

     1,374

       203

       236

       153

        43

        72

       143

       971

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,121,316

   173,326

 4,242,795

   126,533

   293,315

   786,151

   547,655

   452,749

   119,953

    60,663

   101,493

   363,203

   853,481

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 30, 2023 (continued)

 

1.

Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

 

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between

 

the purchase price and the face value of the securities that have not been amortized.  For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities,

 

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

 

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions.

2.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3.

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.

4.

Revalued daily at current foreign currency exchange rates.

5.

Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.

6.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7.

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.

8.

The Federal Reserve Banks remit residual net earnings to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume.

9.

Book value. Amount of equity investments in MS Facilities LLC of $9.7 billion, Municipal Liquidity Facility LLC of $2.8 billion, and TALF II LLC of $0.9 billion.

 

  

 

 

 

Note on consolidation:

 

 

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the FRBB.

 

 

The FRBNY is the managing member of MLF LLC and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).

 

 

 


 

H.4.1

 

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Aug 30, 2023

Federal Reserve notes outstanding

 2,690,657

Less: Notes held by F.R. Banks not subject to collateralization

   409,776

Federal Reserve notes to be collateralized

 2,280,881

Collateral held against Federal Reserve notes

 2,280,881

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2

 2,264,644

Other assets pledged

         0

Memo:

 

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2

 7,508,058

Less: Face value of securities under reverse repurchase agreements

 2,217,733

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged

 5,290,325

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.

 

 

 

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Last Update: August 31, 2023