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Release Date: February 06, 2025

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For Release at

4:30 P.M. Eastern Time

February 6, 2025

 

In table 4, the outstanding amount of facility asset purchases for MS Facilities 2020 LLC (Main Street Lending Program) reflects the quarterly update to the allowance for credit losses. The allowance for credit losses was estimated based upon the Main Street Lending Program holdings as of December 31, 2024.

 


 

 

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
Feb 5, 2025

Week ended
Feb 5, 2025

Change from week ended

Jan 29, 2025

Feb 7, 2024

Reserve Bank credit

 6,765,205

-   15,009

-  828,898

 6,764,976

Securities held outright1

 6,487,059

-   14,393

-  625,094

 6,485,850

U.S. Treasury securities

 4,267,153

-    7,377

-  425,496

 4,265,944

Bills2

   195,343

         0

-   15,010

   195,343

Notes and bonds, nominal2

 3,645,330

-    8,305

-  365,564

 3,643,946

Notes and bonds, inflation-indexed2

   319,846

+      952

-   40,376

   320,005

Inflation compensation3

   106,634

-       24

-    4,546

   106,650

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,217,559

-    7,016

-  199,597

 2,217,559

Unamortized premiums on securities held outright5

   247,069

-      533

-   28,653

   246,850

Unamortized discounts on securities held outright5

   -24,159

-      113

+    1,449

   -24,071

Repurchase agreements6

         0

-       36

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-       36

         0

         0

Loans

     5,588

+      599

-  164,963

     5,212

Primary credit

     3,466

+      633

+    1,069

     3,095

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

-        1

         0

         0

Paycheck Protection Program Liquidity Facility

     1,921

-       10

-    1,382

     1,920

Bank Term Funding Program

       200

-       25

-  164,651

       197

Other credit extensions7

         0

         0

         0

         0

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

     7,386

-      256

-    7,700

     7,394

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-        1

         0

Net portfolio holdings of TALF II LLC8

         0

         0

         0

         0

Float

      -469

-       83

-      203

      -336

Central bank liquidity swaps9

        76

-        2

-      154

        76

Other Federal Reserve assets10

    42,656

-      191

-    3,578

    44,001

Foreign currency denominated assets11

    17,704

+        5

-      390

    17,769

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

    15,200

         0

+   10,000

    15,200

Treasury currency outstanding12

    53,173

+       14

+      728

    53,173

 

 

 

 

 

Total factors supplying reserve funds

 6,862,322

-   14,991

-  818,561

 6,862,159

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
Feb 5, 2025

Week ended
Feb 5, 2025

Change from week ended

Jan 29, 2025

Feb 7, 2024

Currency in circulation12

 2,349,126

-      899

+   22,685

 2,349,958

Reverse repurchase agreements13

   518,698

+   24,337

-  346,581

   455,413

Foreign official and international accounts

   382,709

-    1,022

+   43,372

   376,625

Others

   135,990

+   25,360

-  389,952

    78,788

Treasury cash holdings

       341

+        9

-       73

       349

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

   981,720

+    7,606

+    6,525

   986,400

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   805,593

+   21,387

+    3,458

   817,953

Foreign official

     9,682

-        2

-        7

     9,683

Other14

   166,445

-   13,779

+    3,075

   158,765

Treasury contributions to credit facilities15

     3,461

         0

-    3,977

     3,461

Other liabilities and capital16

  -168,089

+    1,677

-   74,882

  -166,750

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 3,685,258

+   32,730

-  396,302

 3,628,831

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,177,065

-   47,720

-  422,258

 3,233,328

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 2020 LLC.

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
Feb 5, 2025

Week ended
Feb 5, 2025

Change from week ended

Jan 29, 2025

Feb 7, 2024

Securities held in custody for foreign official and international accounts

 3,279,339

+   11,109

-   80,482

 3,286,648

Marketable U.S. Treasury securities1

 2,905,142

+   10,619

-   34,508

 2,912,217

Federal agency debt and mortgage-backed securities2

   288,303

-      186

-   49,586

   288,280

Other securities3

    85,894

+      677

+    3,612

    86,151

Securities lent to dealers

    25,682

-    1,382

-    7,233

    26,343

Overnight facility4

    25,682

-    1,382

-    7,233

    26,343

U.S. Treasury securities

    25,682

-    1,382

-    7,233

    26,343

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, February 5, 2025

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

     1,220

     2,077

       365

     1,550

         0

...

     5,212

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    90,859

   185,553

   448,505

 1,450,261

   549,206

 1,541,561

 4,265,944

Weekly changes

+   25,951

-   28,475

-    3,788

-    6,528

+    3,547

+      726

-    8,567

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

     1,151

     1,196

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         0

        71

     3,970

    35,464

 2,178,054

 2,217,559

Weekly changes

         0

         0

+       28

+       53

+    4,889

-    4,970

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities 2020 LLC (Main Street

 

 

 

 

 

 

 

Lending Program)5

        45

         0

     4,016

        12

...

...

     4,074

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

        76

         0

         0

         0

         0

         0

        76

Reverse repurchase agreements6

   455,413

         0

...

...

...

...

   455,413

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. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities 2020 LLC, which were eliminated when preparing the FRBB's statement of condition, 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 2020 LLC.

6.

Cash value of agreements.

7.

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

Feb 5, 2025

Mortgage-backed securities held outright1

 2,217,559

Residential mortgage-backed securities

 2,209,533

Commercial mortgage-backed securities

     8,026

 

 

Commitments to buy mortgage-backed securities2

        95

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 LLC

Millions of dollars

Credit Facilities LLC:

Wednesday Feb 5, 2025

 

Net portfolio holdings of

Credit Facilities LLC

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

MS Facilities 2020 LLC (Main Street Lending Program)

     2,953

     3,342

     4,052

     7,394

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 includes loan participations at face value, net of an allowance for credit losses, updated as of December 31, 2024.

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. 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
Feb 5, 2025

Change since

Wednesday

Wednesday

Jan 29, 2025

Feb 7, 2024

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

    15,200

         0

+   10,000

Coin

 

     1,565

+       24

+       48

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

 

 6,713,841

-    9,249

-  818,804

Securities held outright1

 

 6,485,850

-    8,567

-  626,262

U.S. Treasury securities

 

 4,265,944

-    8,567

-  426,664

Bills2

 

   195,343

         0

-   15,010

Notes and bonds, nominal2

 

 3,643,946

-    9,689

-  366,948

Notes and bonds, inflation-indexed2

 

   320,005

+    1,111

-   40,217

Inflation compensation3

 

   106,650

+       11

-    4,488

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,217,559

         0

-  199,597

Unamortized premiums on securities held outright5

 

   246,850

-      447

-   28,705

Unamortized discounts on securities held outright5

 

   -24,071

-      105

+    1,452

Repurchase agreements6

 

         0

-        3

         0

Loans7

 

     5,212

-      127

-  165,289

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

 

     7,394

-      254

-    7,709

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

         0

         0

-        1

Net portfolio holdings of TALF II LLC8

 

         0

         0

         0

Items in process of collection

(0)

        52

-       33

-        4

Bank premises

 

       589

-        4

+      143

Central bank liquidity swaps9

 

        76

-        2

-      154

Foreign currency denominated assets10

 

    17,769

+      124

-      298

Other assets11

 

    43,412

+    2,142

-    3,586

 

 

 

 

 

Total assets

(0)

 6,810,935

-    7,251

-  820,365

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
Feb 5, 2025

Change since

Wednesday

Wednesday

Jan 29, 2025

Feb 7, 2024

Liabilities

 

 

 

 

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

 

 2,298,695

+      853

+   22,067

Reverse repurchase agreements12

 

   455,413

-   40,974

-  434,766

Deposits

(0)

 4,219,729

+   31,115

-  329,408

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,233,328

+   32,672

-  322,410

U.S. Treasury, General Account

 

   817,953

+    6,404

-    3,622

Foreign official

 

     9,683

+        3

-        8

Other13

(0)

   158,765

-    7,964

-    3,369

Deferred availability cash items

(0)

       388

-      717

+       11

Treasury contributions to credit facilities14

 

     3,461

         0

-    3,977

Other liabilities and accrued dividends15

 

  -210,950

+    2,347

-   75,351

 

 

 

 

 

Total liabilities

(0)

 6,766,736

-    7,376

-  821,425

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    37,415

+      126

+    1,061

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    44,200

+      126

+    1,061

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 2020 LLC.

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, February 5, 2025

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

    26,237

       895

     8,109

       797

     1,233

     1,911

     3,730

     1,726

       786

       438

       738

     2,261

     3,613

Coin

     1,565

        59

        54

       171

        51

       206

       123

       253

        38

        59

       102

       199

       248

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

 6,713,841

   139,618

 3,610,901

   100,039

   262,457

   668,822

   448,974

   370,419

    94,050

    42,609

    73,795

   293,550

   608,606

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities 2020 LLC (Main Street

 

 

 

 

 

 

 

 

 

 

 

 

 

Lending Program)2

     7,394

     7,394

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

        76

         3

        26

         3

         8

        15

         2

         4

         2

         0

         1

         2

        10

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    17,769

       741

     6,145

       626

     1,890

     3,505

       582

       872

       400

       111

       193

       427

     2,275

Other assets5

    44,053

       985

    21,206

       739

     1,695

     4,602

     4,236

     2,364

       970

       483

       777

     1,977

     4,017

Interdistrict settlement account

         0

+   10,980

+   77,631

+   28,366

-   19,266

-  131,745

-    2,780

-   27,119

+    8,118

+    7,031

-    3,423

+    4,958

+   47,249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 6,810,935

   160,676

 3,724,073

   130,740

   248,069

   547,317

   454,868

   348,519

   104,364

    50,732

    72,183

   303,374

   666,018

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, February 5, 2025 (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

 2,298,695

    83,380

   748,080

    55,937

   113,544

   164,984

   356,109

   107,175

    76,790

    29,678

    33,826

   198,998

   330,194

Reverse repurchase agreements6

   455,413

     9,472

   245,076

     6,785

    17,759

    45,395

    30,469

    25,133

     6,373

     2,845

     5,007

    19,887

    41,211

Deposits

 4,219,729

    65,766

 2,845,712

    69,682

   121,655

   362,808

    65,331

   229,177

    19,903

    18,121

    33,499

    84,295

   303,778

Depository institutions

 3,233,328

    65,759

 1,963,746

    69,680

   121,617

   362,664

    65,304

   125,287

    19,890

    17,973

    33,470

    84,212

   303,727

U.S. Treasury, General Account

   817,953

         0

   817,953

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,683

         2

     9,657

         1

         4

         8

         1

         2

         1

         0

         0

         1

         5

Other7

   158,765

         6

    54,356

         0

        34

       136

        25

   103,889

        13

       148

        29

        82

        46

Earnings remittances due to the U.S. Treasury8

  -220,758

    -4,522

  -133,801

    -3,434

    -9,890

   -35,546

       623

   -16,047

        -6

      -347

      -897

    -1,401

   -15,490

Treasury contributions to credit facilities9

     3,461

     3,461

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    10,196

     1,256

     4,159

       248

       364

     1,105

       771

       643

       190

       152

       209

       313

       787

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 6,766,736

   158,813

 3,709,226

   129,219

   243,433

   538,746

   453,303

   346,081

   103,250

    50,449

    71,645

   302,092

   660,479

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    37,415

     1,576

    12,559

     1,287

     3,933

     7,249

     1,336

     2,060

       942

       240

       463

     1,084

     4,686

Surplus

     6,785

       287

     2,288

       235

       704

     1,322

       230

       379

       172

        44

        75

       198

       852

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 6,810,935

   160,676

 3,724,073

   130,740

   248,069

   547,317

   454,868

   348,519

   104,364

    50,732

    72,183

   303,374

   666,018

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, February 5, 2025 (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 2020 LLC.

 

  

 

 

 

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 2020 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 2020 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 2020 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

Feb 5, 2025

Federal Reserve notes outstanding

 2,789,889

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

   491,194

Federal Reserve notes to be collateralized

 2,298,695

Collateral held against Federal Reserve notes

 2,298,695

Gold certificate account

    11,037

Special drawing rights certificate account

    15,200

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

 2,272,459

Other assets pledged

         0

Memo:

 

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

 6,485,850

Less: Face value of securities under reverse repurchase agreements

   529,427

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

 5,956,423

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: February 06, 2025
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