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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

September 23, 2021

 

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
Sep 22, 2021

Week ended
Sep 22, 2021

Change from week ended

Sep 15, 2021

Sep 23, 2020

Reserve Bank credit

 8,438,372

+   86,336

+1,406,310

 8,451,039

Securities held outright1

 7,938,941

+   91,182

+1,500,463

 7,952,278

U.S. Treasury securities

 5,408,319

+   23,708

+  992,214

 5,413,374

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,658,277

+   22,117

+  893,724

 4,660,848

Notes and bonds, inflation-indexed2

   360,581

+    1,029

+   74,663

   362,754

Inflation compensation3

    63,417

+      561

+   23,827

    63,729

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,528,275

+   67,474

+  508,248

 2,536,557

Unamortized premiums on securities held outright5

   355,977

+    1,455

+   23,032

   356,156

Unamortized discounts on securities held outright5

   -15,561

+       16

-   10,691

   -15,597

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    66,217

-    5,383

-   11,707

    64,875

Primary credit

       286

+       12

-    2,851

       382

Secondary credit

         0

         0

         0

         0

Seasonal credit

        30

+        5

-        5

        30

Primary Dealer Credit Facility

         0

         0

-      233

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    7,377

         0

Paycheck Protection Program Liquidity Facility

    65,901

-    5,400

-    1,240

    64,462

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,588

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

    12,308

-    2,748

-   32,666

    12,307

Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)7

    30,438

-      103

-    8,739

    30,441

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,773

+        2

-    6,772

     9,774

Net portfolio holdings of TALF II LLC7

     4,512

         0

-    6,919

     4,512

Float

      -124

-        2

+       80

       -88

Central bank liquidity swaps8

       336

+        7

-   32,274

       336

Other Federal Reserve assets9

    35,556

+    1,911

+    1,091

    36,044

Foreign currency denominated assets10

    21,178

-       83

-      502

    21,189

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,880

+       14

+      525

    50,880

 

 

 

 

 

Total factors supplying reserve funds

 8,526,671

+   86,267

+1,406,333

 8,539,349

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
Sep 22, 2021

Week ended
Sep 22, 2021

Change from week ended

Sep 15, 2021

Sep 23, 2020

Currency in circulation11

 2,195,773

-    1,739

+  167,407

 2,196,411

Reverse repurchase agreements12

 1,507,217

+  106,357

+1,306,913

 1,564,032

Foreign official and international accounts

   285,722

-    8,944

+   85,426

   280,751

Others

 1,221,495

+  115,301

+1,221,487

 1,283,281

Treasury cash holdings

        54

+        7

+        7

        47

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

   576,605

+   97,378

-1,321,105

   552,846

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   308,022

+   77,694

-1,372,666

   272,679

Foreign official

     6,272

-      349

-   12,599

     7,909

Other13

   262,311

+   20,033

+   64,159

   272,257

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    49,997

-    1,298

+      584

    47,816

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,369,924

+  200,704

+   80,085

 4,401,430

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,156,747

-  114,437

+1,326,248

 4,137,919

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 assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to 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.

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

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.

Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

15.

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
Sep 22, 2021

Week ended
Sep 22, 2021

Change from week ended

Sep 15, 2021

Sep 23, 2020

Securities held in custody for foreign official and international accounts

 3,483,871

+   13,166

+   59,766

 3,481,948

Marketable U.S. Treasury securities1

 3,063,248

+   16,498

+   75,767

 3,063,757

Federal agency debt and mortgage-backed securities2

   329,566

-    2,471

-   21,408

   327,265

Other securities3

    91,056

-      862

+    5,407

    90,926

Securities lent to dealers

    32,032

+    1,257

+    7,655

    32,328

Overnight facility4

    32,032

+    1,257

+    7,655

    32,328

U.S. Treasury securities

    32,032

+    1,257

+    7,655

    32,328

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, September 22, 2021

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

       197

       215

     5,231

    59,232

         0

...

    64,875

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    76,874

   296,375

   702,303

 2,065,332

   994,988

 1,277,502

 5,413,374

Weekly changes

+    8,805

+    8,541

-   10,097

+    7,372

+    4,494

+    2,386

+   21,502

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,134

       213

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         0

        21

     1,742

    65,153

 2,469,641

 2,536,557

Weekly changes

         0

         0

         0

+        1

+      223

+   22,178

+   22,401

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,967

...

...

    15,967

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,460

...

...

     1,460

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       236

       100

         0

         0

         0

         0

       336

Reverse repurchase agreements8

 1,564,032

         0

...

...

...

...

 1,564,032

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 Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Corporate Credit Facilities LLC, 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

Sep 22, 2021

Mortgage-backed securities held outright1

 2,536,557

Residential mortgage-backed securities

 2,526,984

Commercial mortgage-backed securities

     9,573

 

 

Commitments to buy mortgage-backed securities2

    74,742

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 Sep 22, 2021

 

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

Corporate Credit Facilities LLC

         0

         0

    12,307

    12,307

MS Facilities LLC (Main Street Lending Program)

    15,920

    13,421

    17,020

    30,441

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,401

     9,774

TALF II LLC

     1,480

     1,460

     3,052

     4,512

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 Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. Asset balances from trading activity are

 

    reported on a one-day lag after the transaction date.

 

b. 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, 2021.

 

c. 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.

 

d. 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 credit facilities from the following consolidated LLCs: Corporate Credit Facilities LLC, 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
Sep 22, 2021

Change since

Wednesday

Wednesday

Sep 15, 2021

Sep 23, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,202

-        7

-      265

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

 

 8,357,712

+   38,996

+1,491,628

Securities held outright1

 

 7,952,278

+   43,903

+1,493,540

U.S. Treasury securities

 

 5,413,374

+   21,502

+  981,851

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,660,848

+   17,601

+  881,017

Notes and bonds, inflation-indexed2

 

   362,754

+    3,202

+   76,836

Inflation compensation3

 

    63,729

+      699

+   23,998

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,536,557

+   22,401

+  511,689

Unamortized premiums on securities held outright5

 

   356,156

+      425

+   22,205

Unamortized discounts on securities held outright5

 

   -15,597

-       32

-   10,760

Repurchase agreements6

 

         0

         0

         0

Loans7

 

    64,875

-    5,299

-   13,356

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,588

Net portfolio holdings of Corporate Credit Facilities LLC8

 

    12,307

-        1

-   32,665

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

 

    30,441

+        4

-    8,914

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,774

+        2

-    6,772

Net portfolio holdings of TALF II LLC8

 

     4,512

         0

-    6,919

Items in process of collection

(0)

        70

+       13

+       11

Bank premises

 

     1,587

-        3

-      608

Central bank liquidity swaps9

 

       336

+        7

-   31,614

Foreign currency denominated assets10

 

    21,189

-       93

-      321

Other assets11

 

    34,456

+    2,135

+    1,689

 

 

 

 

 

Total assets

(0)

 8,489,824

+   41,054

+1,396,663

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
Sep 22, 2021

Change since

Wednesday

Wednesday

Sep 15, 2021

Sep 23, 2020

Liabilities

 

 

 

 

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

 

 2,146,776

-      767

+  166,569

Reverse repurchase agreements12

 

 1,564,032

+  188,356

+1,359,680

Deposits

(0)

 4,690,764

-  145,983

-   55,681

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,137,919

-  106,758

+1,289,834

U.S. Treasury, General Account

 

   272,679

-   71,989

-1,389,053

Foreign official

 

     7,909

+    2,644

-   10,962

Other13

(0)

   272,257

+   30,121

+   54,500

Deferred availability cash items

(0)

       157

-       22

-      348

Treasury contributions to credit facilities14

 

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

 

     7,948

-      536

-      595

 

 

 

 

 

Total liabilities

(0)

 8,449,956

+   41,049

+1,395,903

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,083

+        5

+      800

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,868

+        5

+      760

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 Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, 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 Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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, September 22, 2021

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

       531

     5,422

       523

       752

     1,187

     2,188

     1,136

       475

       273

       455

     1,220

     2,075

Coin

     1,202

        16

        22

       115

        47

       176

       110

       228

        13

        29

        86

       142

       218

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

 8,357,712

   138,624

 4,695,766

   177,380

   316,076

   556,692

   486,308

   453,051

   108,796

    83,884

   111,330

   367,445

   862,362

Net portfolio holdings of Corporate Credit Facilities LLC2

    12,307

         0

    12,307

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,441

    30,441

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,774

         0

     9,774

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,512

         0

     4,512

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       336

        15

       113

        12

        29

        70

        15

        13

         6

         3

         4

         6

        50

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    21,189

       962

     7,123

       761

     1,832

     4,409

       958

       830

       403

       180

       229

       382

     3,120

Other assets5

    36,113

       690

    18,904

       862

     1,376

     2,683

     2,232

     1,995

       792

       443

       776

     1,692

     3,669

Interdistrict settlement account

         0

+   27,283

-  468,240

+   10,731

+   27,475

+   20,912

+   63,787

+  131,380

+   18,836

-    2,206

+   18,674

+   51,444

+   99,926

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,489,824

   198,561

 4,285,702

   190,383

   347,588

   586,130

   555,598

   588,632

   129,321

    82,605

   131,553

   422,330

   971,419

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, September 22, 2021 (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

 2,146,776

    70,694

   688,521

    61,547

   103,053

   154,229

   312,883

   124,139

    60,817

    32,927

    55,279

   197,046

   285,641

Reverse repurchase agreements6

 1,564,032

    26,136

   884,078

    33,034

    56,909

   104,803

    91,640

    85,349

    20,391

    12,102

    20,769

    69,164

   159,656

Deposits

 4,690,764

    85,191

 2,671,420

    93,993

   183,628

   317,979

   148,607

   376,958

    47,126

    37,025

    54,799

   154,726

   519,312

Depository institutions

 4,137,919

    85,165

 2,308,913

    93,992

   183,588

   317,226

   148,467

   188,398

    47,117

    36,817

    54,384

   154,567

   519,285

U.S. Treasury, General Account

   272,679

         0

   272,679

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,909

         2

     7,883

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   272,257

        24

    81,944

         0

        37

       745

       138

   188,559

         7

       208

       415

       158

        21

Earnings remittances due to the U.S. Treasury8

     1,841

        16

     1,114

        39

        60

        47

       119

       100

        31

        15

        19

        89

       191

Treasury contributions to credit facilities9

    40,278

    16,572

    23,706

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     6,264

    -1,814

     3,525

       270

       347

       870

       579

       545

       209

       308

       248

       397

       781

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,449,956

   196,795

 4,272,364

   188,883

   343,997

   577,929

   553,828

   587,092

   128,573

    82,377

   131,115

   421,422

   965,581

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,083

     1,458

    11,058

     1,256

     3,004

     6,789

     1,463

     1,275

       620

       170

       365

       786

     4,840

Surplus

     6,785

       308

     2,280

       244

       587

     1,412

       307

       266

       129

        58

        73

       122

       999

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,489,824

   198,561

 4,285,702

   190,383

   347,588

   586,130

   555,598

   588,632

   129,321

    82,605

   131,553

   422,330

   971,419

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, September 22, 2021 (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 Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility,

 

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.

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 each Federal Reserve Bank's allotted surplus cap.

9.

Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollar-denominated commercial paper by eligible issuers. The assets of the CPFF 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 May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility. The assets of the CCF 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 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 CPFF II LLC, CCF LLC, 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

Sep 22, 2021

Federal Reserve notes outstanding

 2,388,101

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

   241,324

Federal Reserve notes to be collateralized

 2,146,776

Collateral held against Federal Reserve notes

 2,146,776

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,130,539

Other assets pledged

         0

Memo:

 

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

 7,952,278

Less: Face value of securities under reverse repurchase agreements

 1,491,692

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

 6,460,587

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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