Financial Accounts of the United States - Z.1

F4.1.t Federal funds and security repurchase agreements 🕮 PDF
Line Description Series 2023 2024 2025 2025:Q1 2025:Q2 2025:Q3 2025:Q4 2026:Q1 2026:Q2
Line 1 Net change in liabilities FA892150005 -361.2 -331.1 648.4 2607.4 1022.3 -1467.6 431.3 1136.2 1348.0
Line 2 Central bank FA712151003 -1498.9 -502.3 -426.2 -335.2 220.4 -1737.7 147.7 -435.2 110.2
Line 3 U.S.-chartered depository institutions FA762150005 59.0 17.6 15.6 57.2 195.5 -122.9 -67.2 -17.1 28.2
Line 4 Federal funds(2) FA762152005 -16.1 -7.4 2.1 10.1 7.1 -9.1 0.4 8.1 8.5
Line 5 Security repurchase agreements FA762151005 75.1 25.0 13.5 47.1 188.4 -113.8 -67.7 -25.3 19.7
Line 6 Foreign banking offices in U.S. FA752150005 87.3 -115.1 35.5 237.6 52.3 12.2 -159.9 182.1 183.1
Line 7 Federal funds(2) FA752152005 2.8 4.1 8.1 58.1 5.9 -0.4 -31.2 43.5 37.2
Line 8 Security repurchase agreements FA752151005 84.5 -119.2 27.5 179.5 46.3 12.6 -128.6 138.6 146.0
Line 9 Credit unions FA472150053 -0.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 10 Property-casualty insurance companies FA512151003 2.3 -0.4 -0.0 0.3 -1.7 2.2 -0.9 1.5 -1.1
Line 11 Life insurance companies FA542151073 -0.3 5.6 -5.7 12.0 -21.7 -8.7 -4.4 24.2 14.0
Line 12 Government-sponsored enterprises FA402150005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 13 ABS Issuers FA672151003 3.0 6.5 9.8 1.2 22.8 12.0 3.2 2.0 18.0
Line 14 Mortgage REITs FA642151073 17.4 19.1 75.5 49.6 48.5 91.0 112.7 56.5 15.3
Line 15 Interval and tender offer funds FA462151005 -0.3 -0.2 0.6 -0.3 0.8 2.7 -0.7 1.2 -0.4
Line 16 Hedge funds FA622151003 16.3 8.6 21.9 75.0 10.2 -4.3 6.7 -0.7 3.1
Line 17 Brokers and dealers FA662151003 483.9 226.0 491.8 1446.0 60.6 -47.3 508.1 851.6 300.5
Line 18 Holding companies FA732151003 -0.0 -0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 19 Rest of the world FA262151005 469.3 3.5 429.5 1064.0 434.6 333.2 -114.0 470.3 677.0
Line 20 Net change in assets FA892050005 164.3 204.2 1193.0 3187.7 687.3 -628.1 1525.0 720.4 327.9
Line 21 Nonfinancial corporate business FA102051003 -3.1 23.3 39.5 42.0 17.1 109.8 -11.1 77.9 112.7
Line 22 Federal government FA313011545 -0.0 1.9 2.6 0.0 0.6 1.8 8.1 0.0 0.0
Line 23 State and local governments FA212051003 12.7 10.0 13.1 9.8 25.9 25.4 -8.6 -1.7 5.3
Line 24 Central bank FA712051005 -0.0 1.9 77.2 5.2 39.7 -18.5 282.5 -298.4 -0.0
Line 25 U.S.-chartered depository institutions FA762050005 -9.2 16.1 40.5 46.3 164.9 -131.8 82.6 -33.1 0.7
Line 26 Federal funds(2) FA762052005 -12.6 1.3 0.7 10.9 -7.7 -1.5 1.0 7.3 -7.0
Line 27 Security repurchase agreements FA762051005 3.3 14.8 39.8 35.3 172.5 -130.3 81.5 -40.3 7.7
Line 28 Foreign banking offices in U.S. FA752050005 69.9 25.4 57.9 288.9 -25.9 13.2 -44.5 105.5 15.3
Line 29 Federal funds(2) FA752052005 -0.2 -0.1 -0.1 -0.2 0.0 1.3 -1.3 0.1 1.6
Line 30 Security repurchase agreements FA752051005 70.1 25.5 58.0 289.1 -25.9 11.9 -43.2 105.4 13.7
Line 31 Credit unions FA472050053 -0.0 -0.0 -0.0 0.0 -0.1 -0.0 0.0 -0.0 0.0
Line 32 Federal funds FA472052053 -0.0 -0.0 0.0 0.0 0.0 -0.0 0.0 -0.0 0.0
Line 33 Security repurchase agreements FA472051055 0.0 0.0 -0.0 0.0 -0.1 0.0 0.0 0.0 0.0
Line 34 Property-casualty insurance companies FA512051005 -1.9 0.7 -0.1 0.0 -0.9 0.8 -0.5 0.6 -0.5
Line 35 Life insurance companies FA542051075 1.0 -0.2 -0.8 1.5 -2.8 -1.1 -0.6 5.2 1.8
Line 36 Private pension funds FA572051005 -0.1 -0.9 0.1 0.1 0.1 0.0 0.1 0.0 0.0
Line 37 State and local govt. pension funds FA222051043 11.9 50.4 66.5 -3.1 3.9 127.4 137.9 189.4 -33.3
Line 38 Money market funds FA632051000 -310.8 -45.7 374.2 1107.2 613.6 -1209.1 985.3 47.8 14.8
Line 39 Mutual funds (net) FA652051003 -3.7 -8.1 3.3 5.4 26.7 12.1 -31.1 -40.3 3.0
Line 40 Hedge funds FA622051003 10.1 7.4 25.1 23.4 56.9 9.2 11.0 -50.2 -59.1
Line 41 Government-sponsored enterprises FA402050005 19.9 30.0 -40.7 61.9 20.8 -69.2 -176.5 -82.9 74.4
Line 42 Of which: FHLB federal funds(3) FA402052033 -8.1 -6.3 20.5 106.7 8.8 43.4 -77.0 49.8 61.4
Line 43 Brokers and dealers FA662051003 164.2 64.2 299.7 962.1 -299.9 5.1 531.4 327.8 20.2
Line 44 Holding companies FA732051003 -2.2 -1.5 3.2 7.8 -17.6 14.1 8.4 -6.0 6.2
Line 45 Other financial business FA502051005 1.5 -1.3 0.9 -0.8 5.4 -1.8 0.6 6.2 -2.6
Line 46 Rest of the world FA262051005 204.0 30.5 230.8 629.9 58.8 484.5 -250.1 472.4 168.8
Line 47 Discrepancy FA902050005 -525.5 -535.3 -544.6 -580.2 335.0 -839.5 -1093.7 415.8 1020.1
 
Memo: Federal Reserve's reverse repurchase agreement operations
Line 48 Central bank (liabilities)(4) FA712151103 -1535.2 -545.0 -367.5 -297.2 246.3 -1646.6 227.7 -360.8 44.5
Line 49 Money market funds (assets)(5) FA632051103 -1370.9 -586.2 -309.8 -135.0 162.7 -1469.2 202.2 -264.7 1.7
Line 50 Other financial institutions (assets)(6) FA792051115 -164.3 41.2 -57.6 -162.2 83.6 -177.4 25.5 -96.1 42.8

Notes:

  1. Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered depository institutions, 2003:Q1 for foreign banking offices in U.S., 1997:Q1 for credit unions, and 2000:Q1 for FHLB.
  2. Excludes term federal funds.
  3. Includes term federal funds.
  4. Included in net change in liabilities, Central bank.
  5. Included in net change in assets, money market funds.
  6. Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Last Update: September 11, 2026