Financial Accounts of the United States - Z.1

F4.1.s Federal funds and security repurchase agreements 🕮 PDF
Line Description Series 2023 2024 2025 2024:Q4 2025:Q1 2025:Q2 2025:Q3 2025:Q4 2026:Q1
Line 1 Total liabilities FL892150005 6189.7 5846.5 6464.2 5846.5 6454.8 6711.9 6343.3 6464.2 6757.1
Line 2 Central bank FL712151003 1390.7 888.4 462.2 888.4 804.6 859.7 425.3 462.2 353.4
Line 3 U.S.-chartered depository institutions FL762150005 244.2 261.8 277.5 261.8 276.1 325.0 294.3 277.5 273.6
Line 4 Federal funds(2) FL762152005 22.9 15.5 17.6 15.5 18.0 19.8 17.5 17.6 20.0
Line 5 Security repurchase agreements FL762151005 221.4 246.3 259.8 246.3 258.1 305.2 276.8 259.8 253.5
Line 6 Foreign banking offices in U.S. FL752150005 551.5 436.4 471.9 436.4 470.4 488.6 490.2 471.9 490.1
Line 7 Federal funds(2) FL752152005 14.6 18.7 26.7 18.7 33.2 34.7 34.6 26.7 37.6
Line 8 Security repurchase agreements FL752151005 536.9 417.7 445.2 417.7 437.2 454.0 455.7 445.2 452.5
Line 9 Credit unions FL472150053 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 10 Property-casualty insurance companies FL512151003 2.5 2.1 2.1 2.1 2.2 1.8 2.4 2.1 2.5
Line 11 Life insurance companies FL542151073 36.1 41.7 36.0 41.7 44.7 39.3 37.1 36.0 42.0
Line 12 Government-sponsored enterprises FL402150005 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 13 ABS issuers FL672151003 6.0 12.5 21.5 12.5 12.8 18.5 21.5 21.5 22.0
Line 14 Mortgage REITs FL642151073 218.7 237.8 313.2 237.8 250.2 262.3 285.1 313.2 327.4
Line 15 Brokers and dealers FL662151003 2110.0 2336.0 2827.8 2336.0 2697.5 2712.6 2700.8 2827.8 3040.7
Line 16 Holding companies FL732151003 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 17 Rest of the world FL262151005 1630.0 1629.8 2052.0 1629.8 1896.3 2004.1 2086.8 2052.0 2205.6
Line 18 Total assets FL892050005 6875.8 7102.5 8239.2 7102.5 7815.9 8096.1 7901.9 8239.2 8341.1
Line 19 Nonfinancial corporate business FL102051003 27.0 45.7 75.2 45.7 54.3 52.3 77.2 75.2 87.7
Line 20 Federal government FL313011545 0.0 -0.0 0.0 -0.0 0.0 0.0 0.0 0.0 0.0
Line 21 State and local governments FL212051003 213.0 221.8 234.7 221.8 224.5 230.9 236.9 234.7 234.7
Line 22 Central bank FL712051005 0.0 -0.0 74.6 -0.0 1.3 11.1 6.0 74.6 0.0
Line 23 U.S.-chartered depository institutions FL762050005 321.6 337.7 378.2 337.7 349.3 390.5 357.6 378.2 369.9
Line 24 Federal funds(2) FL762052005 13.6 15.0 15.7 15.0 17.7 15.8 15.4 15.7 17.5
Line 25 Security repurchase agreements FL762051005 307.9 322.7 362.5 322.7 331.6 374.7 342.1 362.5 352.4
Line 26 Foreign banking offices in U.S. FL752050005 335.2 360.6 418.6 360.6 432.9 426.4 429.7 418.6 444.9
Line 27 Federal funds(2) FL752052005 0.1 0.1 0.0 0.1 0.0 0.0 0.3 0.0 0.0
Line 28 Security repurchase agreements FL752051005 335.1 360.6 418.6 360.6 432.9 426.4 429.4 418.6 444.9
Line 29 Credit unions FL472050053 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0
Line 30 Federal funds FL472052053 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Line 31 Security repurchase agreements FL472051055 0.1 0.1 0.0 0.1 0.1 0.0 0.0 0.0 0.0
Line 32 Property-casualty insurance companies FL512051005 0.4 1.0 0.9 1.0 1.1 0.8 1.1 0.9 1.1
Line 33 Life insurance companies FL542051075 5.6 5.4 4.6 5.4 5.8 5.1 4.8 4.6 5.9
Line 34 Private pension funds FL572051005 14.3 13.2 12.1 13.2 12.9 12.6 12.4 12.1 11.8
Line 35 State and local govt. pension funds FL222051043 59.0 109.3 162.1 109.3 108.5 109.4 141.1 162.1 185.3
Line 36 Money market funds FL632051000 2665.9 2620.2 2994.4 2620.2 2821.3 3105.3 2772.4 2994.4 2932.0
Line 37 Mutual funds (net) FL652051003 21.1 13.5 16.7 13.5 14.9 21.1 24.1 16.7 16.2
Line 38 Government-sponsored enterprises FL402050005 272.2 341.0 300.3 341.0 356.5 361.7 344.4 300.3 279.6
Line 39 Of which: FHLB federal funds(3) FL402052033 57.9 51.6 72.1 51.6 78.3 80.5 91.3 72.1 84.5
Line 40 Brokers and dealers FL662051003 1625.8 1689.9 1989.6 1689.9 1930.5 1855.5 1856.8 1989.6 2071.6
Line 41 Holding companies FL732051003 3.9 2.4 5.6 2.4 4.4 0.0 3.5 5.6 4.1
Line 42 Other financial business FL502051005 5.4 4.1 5.0 4.1 3.9 5.2 4.8 5.0 6.5
Line 43 Rest of the world FL262051005 1305.4 1336.4 1566.7 1336.4 1493.9 1508.1 1629.2 1566.7 1689.8
Line 44 Discrepancy FL902050005 -686.1 -1256.0 -1775.0 -1256.0 -1361.1 -1384.2 -1558.5 -1775.0 -1584.0
 
Memo:
Line 45 Effective federal funds rate (percent)(4) FL072052006 5.3 4.5 3.7 4.5 4.3 4.3 4.2 3.7 3.6
 
Federal Reserve's reverse repurchase agreement operations:
Line 46 Central bank (liabilities)(5) FL712151103 1018.5 473.5 106.0 473.5 399.2 460.7 49.1 106.0 15.8
Line 47 Money market funds (assets)(6) FL632051103 968.7 382.4 72.6 382.4 348.7 389.4 22.1 72.6 6.4
Line 48 Other financial institutions (assets)(7) FL792051115 49.8 91.0 33.4 91.0 50.5 71.4 27.0 33.4 9.4

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. The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.
  5. Included in line 2.
  6. Included in line 36.
  7. Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Last Update: June 11, 2026