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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

December 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
Dec 22, 2021

Week ended
Dec 22, 2021

Change from week ended

Dec 15, 2021

Dec 23, 2020

Reserve Bank credit

 8,741,797

+   66,694

+1,396,214

 8,752,398

Securities held outright1

 8,291,042

+   66,131

+1,533,769

 8,301,831

U.S. Treasury securities

 5,643,962

+   18,429

+  971,379

 5,649,823

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,864,736

+   15,876

+  872,593

 4,869,208

Notes and bonds, inflation-indexed2

   382,215

+    1,415

+   71,390

   383,200

Inflation compensation3

    70,967

+    1,138

+   27,396

    71,371

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,644,732

+   47,701

+  562,389

 2,649,661

Unamortized premiums on securities held outright5

   354,591

+      267

+   10,302

   354,624

Unamortized discounts on securities held outright5

   -17,989

-      208

-   12,528

   -17,995

Repurchase agreements6

         0

-        1

-    1,001

         0

Foreign official

         0

         0

-    1,001

         0

Others

         0

-        1

         0

         0

Loans

    37,788

-    1,141

-   20,436

    37,082

Primary credit

       703

+      288

-    1,442

       733

Secondary credit

         0

-        1

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-      419

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    4,389

         0

Paycheck Protection Program Liquidity Facility

    37,085

-    1,428

-   14,186

    36,350

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,557

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

-        1

-   46,348

         0

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

    29,394

-      170

-   20,491

    29,398

Net portfolio holdings of Municipal Liquidity Facility LLC7

     7,958

+        2

-   13,310

     7,959

Net portfolio holdings of TALF II LLC7

     2,626

         0

-    9,923

     2,627

Float

      -145

-       38

-       22

      -198

Central bank liquidity swaps8

       256

-       22

-   16,122

       265

Other Federal Reserve assets9

    36,276

+    1,876

+      880

    36,804

Foreign currency denominated assets10

    20,385

-       19

-    1,872

    20,385

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,914

+       14

+      466

    50,914

 

 

 

 

 

Total factors supplying reserve funds

 8,829,336

+   66,688

+1,394,806

 8,839,938

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
Dec 22, 2021

Week ended
Dec 22, 2021

Change from week ended

Dec 15, 2021

Dec 23, 2020

Currency in circulation11

 2,225,001

+    5,110

+  153,650

 2,230,824

Reverse repurchase agreements12

 2,005,627

+  149,503

+1,809,472

 1,982,915

Foreign official and international accounts

   294,628

-   14,807

+   98,731

   283,638

Others

 1,710,998

+  164,309

+1,710,740

 1,699,277

Treasury cash holdings

        70

+        1

+       39

        73

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

   341,345

-   19,973

-1,517,432

   451,259

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

    84,954

-   19,844

-1,517,453

   197,516

Foreign official

     5,260

-    2,443

-   16,566

     5,189

Other13

   251,130

+    2,313

+   16,585

   248,553

Treasury contributions to credit facilities14

    21,258

         0

-   92,742

    21,258

Other liabilities and capital15

    51,027

-    1,531

-      147

    48,695

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,644,327

+  133,109

+  352,838

 4,735,024

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,185,009

-   66,422

+1,041,968

 4,104,914

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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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
Dec 22, 2021

Week ended
Dec 22, 2021

Change from week ended

Dec 15, 2021

Dec 23, 2020

Securities held in custody for foreign official and international accounts

 3,424,975

-   12,925

-   74,116

 3,416,366

Marketable U.S. Treasury securities1

 3,022,499

-   10,382

-   28,765

 3,016,506

Federal agency debt and mortgage-backed securities2

   321,285

-    1,885

-   39,962

   318,840

Other securities3

    81,191

-      658

-    5,388

    81,019

Securities lent to dealers

    32,297

-    9,009

+    4,694

    33,864

Overnight facility4

    32,297

-    9,009

+    4,694

    33,864

U.S. Treasury securities

    32,297

-    9,009

+    4,694

    33,864

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, December 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

       370

       363

     1,911

    34,439

         0

...

    37,082

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    78,069

   329,799

   716,163

 2,153,742

 1,023,231

 1,348,818

 5,649,823

Weekly changes

+   35,388

-   35,405

+       78

+    2,502

+    5,141

+    3,830

+   11,534

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

         1

        30

     1,896

    61,464

 2,586,271

 2,649,661

Weekly changes

         0

         0

+        1

+       12

+      289

+   21,230

+   21,531

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,760

...

...

    15,760

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,131

...

...

     4,131

Loans held by TALF II LLC7

         0

         0

         0

     1,359

...

...

     1,359

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       215

        50

         0

         0

         0

         0

       265

Reverse repurchase agreements8

 1,982,915

         0

...

...

...

...

 1,982,915

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 and other credit extensions. 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

Dec 22, 2021

Mortgage-backed securities held outright1

 2,649,661

Residential mortgage-backed securities

 2,640,421

Commercial mortgage-backed securities

     9,240

 

 

Commitments to buy mortgage-backed securities2

    78,620

Commitments to sell mortgage-backed securities2

        83

 

 

Cash and cash equivalents3

        80

 

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 Dec 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

         0

         0

MS Facilities LLC (Main Street Lending Program)

    15,478

    13,430

    15,968

    29,398

Municipal Liquidity Facility LLC

     4,228

     4,131

     3,828

     7,959

TALF II LLC

     1,431

     1,359

     1,267

     2,627

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.

 

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 September 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 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
Dec 22, 2021

Change since

Wednesday

Wednesday

Dec 15, 2021

Dec 23, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,204

+        9

-      366

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

 

 8,675,543

+   31,853

+1,505,403

Securities held outright1

 

 8,301,831

+   33,065

+1,530,028

U.S. Treasury securities

 

 5,649,823

+   11,534

+  966,942

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,869,208

+    7,901

+  868,016

Notes and bonds, inflation-indexed2

 

   383,200

+    2,400

+   71,176

Inflation compensation3

 

    71,371

+    1,233

+   27,750

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,649,661

+   21,531

+  563,087

Unamortized premiums on securities held outright5

 

   354,624

+       11

+    9,605

Unamortized discounts on securities held outright5

 

   -17,995

-       16

-   12,552

Repurchase agreements6

 

         0

         0

-    1,000

Loans7

 

    37,082

-    1,208

-   20,679

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,557

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   46,410

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

 

    29,398

+        5

-   22,756

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     7,959

+        1

-   13,316

Net portfolio holdings of TALF II LLC8

 

     2,627

+        1

-   10,036

Items in process of collection

(0)

        62

-       13

+        1

Bank premises

 

     1,396

+        9

-      810

Central bank liquidity swaps9

 

       265

-       13

-   16,568

Foreign currency denominated assets10

 

    20,385

+       39

-    1,829

Other assets11

 

    35,420

+    1,941

+    1,702

 

 

 

 

 

Total assets

(0)

 8,790,495

+   33,829

+1,386,456

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
Dec 22, 2021

Change since

Wednesday

Wednesday

Dec 15, 2021

Dec 23, 2020

Liabilities

 

 

 

 

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

 

 2,181,183

+    9,444

+  152,964

Reverse repurchase agreements12

 

 1,982,915

+   55,036

+1,784,391

Deposits

(0)

 4,556,184

-   29,836

-  457,340

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,104,926

-  168,708

+  927,616

U.S. Treasury, General Account

 

   197,516

+  139,222

-1,385,792

Foreign official

 

     5,189

         0

-   16,637

Other13

(0)

   248,553

-      350

+   17,474

Deferred availability cash items

(0)

       260

+       86

-        3

Treasury contributions to credit facilities14

 

    21,258

         0

-   92,742

Other liabilities and accrued dividends15

 

     8,034

-      897

-    2,235

 

 

 

 

 

Total liabilities

(0)

 8,749,834

+   33,833

+1,385,034

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,876

-        4

+    1,462

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    40,661

-        4

+    1,422

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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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, December 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

     1,204

        12

        21

       114

        47

       177

       105

       224

        17

        33

        88

       148

       220

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

 8,675,543

   144,411

 4,888,285

   182,709

   320,817

   579,397

   506,283

   471,582

   113,056

    79,635

   115,187

   382,283

   891,897

Net portfolio holdings of Corporate Credit Facilities LLC2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    29,398

    29,398

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     7,959

         0

     7,959

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,627

         0

     2,627

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       265

        12

        89

        10

        23

        55

        12

        10

         5

         2

         3

         5

        39

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,385

       925

     6,852

       732

     1,762

     4,242

       922

       799

       388

       173

       221

       367

     3,002

Other assets5

    36,878

       723

    19,410

       880

     1,407

     2,781

     2,273

     2,046

       603

       460

       788

     1,736

     3,771

Interdistrict settlement account

         0

+   33,693

-  576,787

+    3,997

+   38,400

+   84,285

+   81,338

+  112,304

+   26,096

+    3,311

+   26,398

+   67,453

+   99,511

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,790,495

   209,705

 4,353,878

   188,965

   363,208

   672,124

   593,121

   588,101

   140,640

    83,887

   143,139

   453,212

 1,000,516

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, December 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

 2,181,183

    72,725

   697,482

    61,978

   103,418

   154,556

   326,431

   121,396

    64,788

    32,986

    55,793

   192,882

   296,746

Reverse repurchase agreements6

 1,982,915

    33,136

 1,120,855

    41,881

    72,151

   132,871

   116,183

   108,208

    25,852

    15,343

    26,332

    87,688

   202,416

Deposits

 4,556,184

    87,906

 2,511,282

    83,299

   183,334

   375,575

   148,222

   356,325

    48,954

    35,116

    60,335

   171,240

   494,598

Depository institutions

 4,104,926

    87,890

 2,256,169

    83,297

   183,255

   374,839

   148,088

   162,590

    48,942

    34,878

    59,462

   170,987

   494,526

U.S. Treasury, General Account

   197,516

         0

   197,516

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,189

         2

     5,162

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   248,553

        14

    52,434

         0

        75

       727

       131

   193,733

        11

       237

       872

       252

        66

Earnings remittances due to the U.S. Treasury8

     2,682

        41

     1,515

        55

       102

       179

       159

       144

        37

        26

        38

       119

       266

Treasury contributions to credit facilities9

    21,258

    15,674

     5,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     5,612

    -1,546

     3,082

       253

       306

       737

       716

       479

       197

       189

       219

       347

       634

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,749,834

   207,938

 4,339,800

   187,465

   359,310

   663,918

   591,711

   586,552

   139,829

    83,659

   142,716

   452,276

   994,660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,876

     1,459

    11,797

     1,257

     3,311

     6,793

     1,102

     1,283

       682

       170

       350

       814

     4,857

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

 8,790,495

   209,705

 4,353,878

   188,965

   363,208

   672,124

   593,121

   588,101

   140,640

    83,887

   143,139

   453,212

 1,000,516

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, December 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 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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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

Dec 22, 2021

Federal Reserve notes outstanding

 2,437,489

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

   256,306

Federal Reserve notes to be collateralized

 2,181,183

Collateral held against Federal Reserve notes

 2,181,183

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,164,946

Other assets pledged

         0

Memo:

 

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

 8,301,831

Less: Face value of securities under reverse repurchase agreements

 1,922,483

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

 6,379,348

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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