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Release Date: November 09, 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
Nov 8, 2023

Week ended
Nov 8, 2023

Change from week ended

Nov 1, 2023

Nov 9, 2022

Reserve Bank credit

 7,822,029

-   38,830

-  820,551

 7,824,909

Securities held outright1

 7,338,061

-   27,275

-  917,931

 7,338,168

U.S. Treasury securities

 4,872,807

-   27,275

-  702,313

 4,872,914

Bills2

   231,266

-       92

-   64,793

   231,266

Notes and bonds, nominal2

 4,163,024

-   27,537

-  640,160

 4,163,024

Notes and bonds, inflation-indexed2

   365,402

+       22

-   10,362

   365,405

Inflation compensation3

   113,116

+      333

+   13,003

   113,219

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,462,907

         0

-  215,617

 2,462,907

Unamortized premiums on securities held outright5

   283,917

-      516

-   35,834

   283,751

Unamortized discounts on securities held outright5

   -26,636

-      300

+      509

   -26,547

Repurchase agreements6

         1

-        1

+        1

         0

Foreign official

         0

         0

         0

         0

Others

         1

-        1

+        1

         0

Loans

   153,025

-   11,872

+  136,628

   154,667

Primary credit

     2,371

-      757

-    1,116

     2,229

Secondary credit

         0

         0

         0

         0

Seasonal credit

        35

-        5

+       18

        31

Paycheck Protection Program Liquidity Facility

     4,288

-       96

-    8,605

     4,244

Bank Term Funding Program

   111,099

+    1,798

+  111,099

   112,935

Other credit extensions7

    35,233

-   12,810

+   35,233

    35,229

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

    19,147

+       20

-    6,493

    19,167

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,644

+        3

+       70

     5,646

Net portfolio holdings of TALF II LLC8

     1,019

-      146

-    1,084

     1,020

Float

      -189

+      202

-       47

      -207

Central bank liquidity swaps9

       236

-       10

+       41

       236

Other Federal Reserve assets10

    47,803

+    1,064

+    3,589

    49,007

Foreign currency denominated assets11

    17,855

+      172

+      799

    17,812

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,504

+       14

+      505

    52,504

 

 

 

 

 

Total factors supplying reserve funds

 7,908,629

-   38,644

-  819,248

 7,911,466

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
Nov 8, 2023

Week ended
Nov 8, 2023

Change from week ended

Nov 1, 2023

Nov 9, 2022

Currency in circulation12

 2,325,646

+    2,205

+   36,818

 2,326,282

Reverse repurchase agreements13

 1,361,586

-   49,075

-1,223,224

 1,343,857

Foreign official and international accounts

   309,527

+    1,811

-   43,284

   319,406

Others

 1,052,060

-   50,885

-1,179,939

 1,024,451

Treasury cash holdings

       377

+        5

+      278

       386

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

   944,735

-   48,179

+  216,011

   932,691

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   772,686

-   47,801

+  245,207

   763,459

Foreign official

     9,725

+       38

+    2,268

     9,687

Other14

   162,323

-      417

-   31,465

   159,545

Treasury contributions to credit facilities15

    13,358

         0

-    4,582

    13,358

Other liabilities and capital16

   -65,981

-    5,291

-  105,571

   -65,535

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,579,721

-  100,336

-1,080,268

 4,551,040

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,328,908

+   61,692

+  261,020

 3,360,426

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
Nov 8, 2023

Week ended
Nov 8, 2023

Change from week ended

Nov 1, 2023

Nov 9, 2022

Securities held in custody for foreign official and international accounts

 3,431,799

+   10,633

+  111,265

 3,431,249

Marketable U.S. Treasury securities1

 2,995,560

+   10,857

+   88,670

 2,995,298

Federal agency debt and mortgage-backed securities2

   353,841

-       39

+   24,664

   353,574

Other securities3

    82,398

-      186

-    2,068

    82,377

Securities lent to dealers

    34,589

-      549

-   10,989

    36,748

Overnight facility4

    34,589

-      549

-   10,989

    36,748

U.S. Treasury securities

    34,589

-      549

-   10,989

    36,748

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, November 8, 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

    36,548

     3,999

   109,880

     4,240

         0

...

   154,667

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    61,587

   246,781

   580,625

 1,671,662

   807,928

 1,504,332

 4,872,914

Weekly changes

-   20,469

+   42,942

-   22,452

+      118

+       65

+      110

+      313

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

         1

        19

     6,378

    36,405

 2,420,104

 2,462,907

Weekly changes

         0

+        1

+        1

+      837

-      774

-       64

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

     9,091

...

...

     9,091

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

     2,907

         0

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       193

         0

         0

...

...

       193

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       236

         0

         0

         0

         0

         0

       236

Reverse repurchase agreements8

 1,343,857

         0

...

...

...

...

 1,343,857

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

Nov 8, 2023

Mortgage-backed securities held outright1

 2,462,907

Residential mortgage-backed securities

 2,454,618

Commercial mortgage-backed securities

     8,289

 

 

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 Nov 8, 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)

     8,329

     8,314

    10,853

    19,167

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,739

     5,646

TALF II LLC

       200

       193

       828

     1,020

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 September 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
Nov 8, 2023

Change since

Wednesday

Wednesday

Nov 1, 2023

Nov 9, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,451

-        4

+      255

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

 

 7,750,039

-    9,002

-  815,135

Securities held outright1

 

 7,338,168

+      313

-  917,936

U.S. Treasury securities

 

 4,872,914

+      313

-  702,318

Bills2

 

   231,266

         0

-   64,793

Notes and bonds, nominal2

 

 4,163,024

         0

-  640,160

Notes and bonds, inflation-indexed2

 

   365,405

+       25

-   10,381

Inflation compensation3

 

   113,219

+      287

+   13,016

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,462,907

         0

-  215,617

Unamortized premiums on securities held outright5

 

   283,751

-      491

-   35,794

Unamortized discounts on securities held outright5

 

   -26,547

-      301

+      540

Repurchase agreements6

 

         0

-        1

-        1

Loans7

 

   154,667

-    8,522

+  138,055

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

 

    19,167

+       23

-    6,492

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,646

+        3

+       70

Net portfolio holdings of TALF II LLC8

 

     1,020

+        1

-    1,085

Items in process of collection

(0)

        73

+        6

-       35

Bank premises

 

       430

         0

-      207

Central bank liquidity swaps9

 

       236

-       10

+       41

Foreign currency denominated assets10

 

    17,812

+      204

+      618

Other assets11

 

    48,580

+    2,806

+    3,774

 

 

 

 

 

Total assets

(0)

 7,860,691

-    5,973

-  818,195

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
Nov 8, 2023

Change since

Wednesday

Wednesday

Nov 1, 2023

Nov 9, 2022

Liabilities

 

 

 

 

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

 

 2,275,611

+      978

+   33,470

Reverse repurchase agreements12

 

 1,343,857

-   52,658

-1,248,233

Deposits

(0)

 4,293,119

+   51,105

+  506,465

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,360,428

+   45,798

+  289,198

U.S. Treasury, General Account

 

   763,459

+   10,451

+  246,119

Foreign official

 

     9,687

+        1

+    2,251

Other13

(0)

   159,545

-    5,146

-   31,104

Deferred availability cash items

(0)

       280

-      266

-       23

Treasury contributions to credit facilities14

 

    13,358

         0

-    4,582

Other liabilities and accrued dividends15

 

  -108,310

-    5,173

-  106,483

 

 

 

 

 

Total liabilities

(0)

 7,817,915

-    6,014

-  819,385

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,991

+       41

+    1,190

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,776

+       41

+    1,190

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, November 8, 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

     1,451

        53

        42

       133

        52

       186

       114

       255

        29

        48

        99

       180

       259

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

 7,750,039

   150,990

 4,249,033

   127,590

   236,422

   535,949

   521,761

   479,137

   120,818

    58,991

   106,514

   383,710

   779,124

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    19,167

    19,167

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,646

         0

     5,646

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,020

         0

     1,020

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       236

        10

        84

         8

        22

        48

         7

         8

         5

         1

         3

         5

        34

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    17,812

       766

     6,339

       640

     1,680

     3,606

       534

       620

       401

       113

       189

       376

     2,549

Other assets5

    49,083

     1,075

    22,947

       874

     1,459

     3,561

     4,505

     2,842

     1,105

       658

     1,056

     2,516

     6,486

Interdistrict settlement account

         0

-    3,175

-   47,069

-   14,189

+   55,572

+  171,220

-   25,631

-   78,776

-   10,283

-    3,240

-   16,434

-   58,787

+   30,793

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 7,860,691

   169,443

 4,243,217

   115,582

   295,959

   715,757

   503,577

   405,190

   112,554

    56,836

    91,879

   329,290

   821,410

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, November 8, 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

 2,275,611

    78,511

   732,650

    51,193

   110,630

   162,827

   353,124

   124,355

    72,450

    33,577

    48,062

   187,590

   320,641

Reverse repurchase agreements6

 1,343,857

    25,963

   750,477

    22,149

    41,297

    93,518

    91,038

    83,771

    20,103

     9,112

    17,375

    65,522

   123,531

Deposits

 4,293,119

    54,386

 2,813,823

    41,643

   143,458

   467,517

    57,414

   203,361

    18,975

    13,953

    26,230

    76,577

   375,780

Depository institutions

 3,360,428

    54,331

 1,985,957

    41,642

   143,428

   467,008

    57,376

    99,415

    18,966

    13,885

    26,200

    76,478

   375,743

U.S. Treasury, General Account

   763,459

         0

   763,459

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,687

         2

     9,661

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   159,545

        53

    54,746

         0

        27

       501

        37

   103,944

         8

        68

        30

        99

        32

Earnings remittances due to the U.S. Treasury8

  -116,882

    -2,206

   -75,896

    -1,102

    -4,234

   -17,555

        35

    -8,776

       -97

      -201

      -440

    -1,651

    -4,757

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

     8,852

     1,308

     3,606

       185

       330

       957

       579

       474

       158

       126

       186

       241

       700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 7,817,915

   167,646

 4,228,334

   114,068

   291,482

   707,264

   502,191

   403,186

   111,589

    56,567

    91,414

   328,280

   815,895

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,991

     1,505

    12,469

     1,270

     3,837

     7,118

     1,182

     1,768

       812

       226

       393

       867

     4,543

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

 7,860,691

   169,443

 4,243,217

   115,582

   295,959

   715,757

   503,577

   405,190

   112,554

    56,836

    91,879

   329,290

   821,410

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, November 8, 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

Nov 8, 2023

Federal Reserve notes outstanding

 2,696,609

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

   420,997

Federal Reserve notes to be collateralized

 2,275,611

Collateral held against Federal Reserve notes

 2,275,611

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,259,375

Other assets pledged

         0

Memo:

 

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

 7,338,168

Less: Face value of securities under reverse repurchase agreements

 1,503,180

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

 5,834,988

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: November 09, 2023