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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 2, 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 1, 2021

Week ended
Sep 1, 2021

Change from week ended

Aug 25, 2021

Sep 2, 2020

Reserve Bank credit

 8,307,039

-   16,865

+1,345,405

 8,309,719

Securities held outright1

 7,800,781

-   11,792

+1,478,038

 7,806,085

U.S. Treasury securities

 5,360,367

+   20,533

+  989,205

 5,365,670

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,616,845

+   17,087

+  889,203

 4,620,243

Notes and bonds, inflation-indexed2

   355,975

+    2,345

+   76,408

   357,551

Inflation compensation3

    61,503

+    1,100

+   23,595

    61,832

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,438,067

-   32,324

+  488,833

 2,438,068

Unamortized premiums on securities held outright5

   353,891

-      981

+   27,219

   354,068

Unamortized discounts on securities held outright5

   -15,351

-      131

-   10,372

   -15,516

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    76,513

-    3,055

-    4,355

    74,808

Primary credit

       329

-       31

-    2,405

       338

Secondary credit

         0

         0

         0

         0

Seasonal credit

        28

         0

-        5

        29

Primary Dealer Credit Facility

         0

         0

-      243

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    9,649

         0

Paycheck Protection Program Liquidity Facility

    76,155

-    3,025

+    7,947

    74,441

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

    17,116

         0

-   27,553

    17,117

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

    30,545

+       10

-    8,011

    30,550

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,768

+        2

-    6,773

     9,769

Net portfolio holdings of TALF II LLC7

     4,513

         0

-    6,583

     4,511

Float

      -371

-      243

+      299

      -622

Central bank liquidity swaps8

       336

-       11

-   88,674

       336

Other Federal Reserve assets9

    29,298

-      662

+      758

    28,612

Foreign currency denominated assets10

    21,231

+       81

-      499

    21,278

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,838

+       14

+      539

    50,838

 

 

 

 

 

Total factors supplying reserve funds

 8,395,349

-   16,770

+1,345,445

 8,398,075

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 1, 2021

Week ended
Sep 1, 2021

Change from week ended

Aug 25, 2021

Sep 2, 2020

Currency in circulation11

 2,189,516

+    2,198

+  172,621

 2,192,423

Reverse repurchase agreements12

 1,398,061

+   11,815

+1,185,136

 1,376,296

Foreign official and international accounts

   274,307

+   10,658

+   61,387

   292,181

Others

 1,123,754

+    1,157

+1,123,749

 1,084,115

Treasury cash holdings

        43

-        9

-       17

        41

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

   524,817

-   56,361

-1,281,638

   533,527

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   277,650

-   23,780

-1,361,509

   296,934

Foreign official

     6,575

-      812

-   10,040

     5,476

Other13

   240,592

-   31,769

+   89,912

   231,117

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    48,653

-      646

+    1,000

    49,061

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,201,368

-   43,003

+    3,380

 4,191,626

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,193,981

+   26,233

+1,342,065

 4,206,449

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 1, 2021

Week ended
Sep 1, 2021

Change from week ended

Aug 25, 2021

Sep 2, 2020

Securities held in custody for foreign official and international accounts

 3,481,642

-   19,966

+   80,304

 3,474,874

Marketable U.S. Treasury securities1

 3,057,044

-   10,703

+   95,322

 3,050,191

Federal agency debt and mortgage-backed securities2

   332,407

-    9,221

-   20,546

   332,507

Other securities3

    92,192

-       41

+    5,529

    92,175

Securities lent to dealers

    31,754

+    1,105

+    3,271

    31,069

Overnight facility4

    31,754

+    1,105

+    3,271

    31,069

U.S. Treasury securities

    31,754

+    1,105

+    3,271

    31,069

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 1, 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

       200

       167

     6,828

    67,613

         0

...

    74,808

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    63,019

   304,096

   704,235

 2,049,268

   978,139

 1,266,913

 5,365,670

Weekly changes

-   16,359

+    6,124

+    7,414

+   15,972

-    3,348

+    9,496

+   19,298

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

     1,718

    62,739

 2,373,590

 2,438,068

Weekly changes

         0

         0

+        5

-        5

         0

+        1

+        1

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    16,059

...

...

    16,059

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,461

...

...

     1,461

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       231

       105

         0

         0

         0

         0

       336

Reverse repurchase agreements8

 1,376,296

         0

...

...

...

...

 1,376,296

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 1, 2021

Mortgage-backed securities held outright1

 2,438,068

Residential mortgage-backed securities

 2,428,443

Commercial mortgage-backed securities

     9,625

 

 

Commitments to buy mortgage-backed securities2

   131,376

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         1

 

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 1, 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

     4,803

         0

    17,117

    17,117

MS Facilities LLC (Main Street Lending Program)

    16,050

    13,514

    17,037

    30,550

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,396

     9,769

TALF II LLC

     1,480

     1,461

     3,051

     4,511

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 1, 2021

Change since

Wednesday

Wednesday

Aug 25, 2021

Sep 2, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,226

-       13

-      251

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

 

 8,219,445

+   15,746

+1,478,271

Securities held outright1

 

 7,806,085

+   19,300

+1,467,866

U.S. Treasury securities

 

 5,365,670

+   19,298

+  979,033

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,620,243

+   16,199

+  877,614

Notes and bonds, inflation-indexed2

 

   357,551

+    2,206

+   77,636

Inflation compensation3

 

    61,832

+      893

+   23,783

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,438,068

+        1

+  488,832

Unamortized premiums on securities held outright5

 

   354,068

+       35

+   26,588

Unamortized discounts on securities held outright5

 

   -15,516

-      303

-   10,529

Repurchase agreements6

 

         0

         0

         0

Loans7

 

    74,808

-    3,286

-    5,654

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,588

Net portfolio holdings of Corporate Credit Facilities LLC8

 

    17,117

+        1

-   27,639

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

 

    30,550

+        7

-    8,137

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,769

+        1

-    6,773

Net portfolio holdings of TALF II LLC8

 

     4,511

-        3

-    6,635

Items in process of collection

(0)

        92

+       10

+       37

Bank premises

 

     1,596

+        4

-      594

Central bank liquidity swaps9

 

       336

+       10

-   88,631

Foreign currency denominated assets10

 

    21,278

+       99

-      436

Other assets11

 

    27,016

+      567

+    1,057

 

 

 

 

 

Total assets

(0)

 8,349,173

+   16,430

+1,331,681

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 1, 2021

Change since

Wednesday

Wednesday

Aug 25, 2021

Sep 2, 2020

Liabilities

 

 

 

 

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

 

 2,142,848

+    3,693

+  169,896

Reverse repurchase agreements12

 

 1,376,296

-   28,814

+1,163,632

Deposits

(0)

 4,739,976

+   38,716

+   71,860

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,206,449

+    2,971

+1,355,849

U.S. Treasury, General Account

 

   296,934

+   38,734

-1,354,889

Foreign official

 

     5,476

-    2,848

-   11,143

Other13

(0)

   231,117

-      141

+   82,043

Deferred availability cash items

(0)

       714

+      499

-      146

Treasury contributions to credit facilities14

 

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

 

     9,265

+    2,305

-      555

 

 

 

 

 

Total liabilities

(0)

 8,309,378

+   16,400

+1,330,967

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,011

+       31

+      755

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,796

+       31

+      715

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 1, 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

     1,226

        16

        23

       114

        54

       180

       111

       232

        14

        29

        87

       145

       219

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

 8,219,445

   136,164

 4,613,000

   174,376

   311,739

   546,870

   477,779

   445,068

   106,899

    87,383

   109,502

   361,034

   849,632

Net portfolio holdings of Corporate Credit Facilities LLC2

    17,117

         0

    17,117

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,550

    30,550

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,769

         0

     9,769

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,511

         0

     4,511

         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

        49

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    21,278

       966

     7,153

       764

     1,840

     4,428

       962

       834

       405

       181

       230

       383

     3,133

Other assets5

    28,704

       566

    14,696

       706

     1,098

     2,168

     1,816

     1,590

       704

       408

       676

     1,366

     2,910

Interdistrict settlement account

         0

+   37,637

-  533,363

+   10,958

+   38,529

+   47,861

+   61,326

+  114,882

+   18,669

-    4,338

+   22,327

+   56,390

+  129,122

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,349,173

   206,445

 4,138,441

   187,453

   354,042

   602,763

   544,197

   563,755

   127,172

    83,939

   133,281

   420,544

   987,141

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 1, 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

 2,142,848

    70,429

   689,007

    62,879

   102,973

   155,434

   309,480

   125,493

    58,142

    33,098

    55,762

   196,440

   283,710

Reverse repurchase agreements6

 1,376,296

    22,999

   777,959

    29,068

    50,078

    92,223

    80,640

    75,105

    17,943

    10,649

    18,276

    60,862

   140,492

Deposits

 4,739,976

    96,497

 2,628,438

    93,694

   197,078

   346,009

   151,582

   360,973

    50,085

    39,115

    58,537

   161,819

   556,148

Depository institutions

 4,206,449

    96,452

 2,281,403

    93,692

   197,034

   345,047

   151,449

   177,897

    50,068

    38,866

    57,425

   160,994

   556,121

U.S. Treasury, General Account

   296,934

         0

   296,934

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,476

         2

     5,450

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   231,117

        44

    44,652

         0

        40

       954

       131

   183,074

        17

       248

     1,112

       825

        21

Earnings remittances due to the U.S. Treasury8

     3,032

        50

     1,727

        64

       108

       170

       193

       163

        51

        28

        41

       131

       307

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

     6,947

    -1,867

     4,264

       249

       301

       727

       533

       481

       206

       824

       228

       351

       649

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,309,378

   204,679

 4,125,103

   185,953

   350,539

   594,563

   542,428

   562,214

   126,428

    83,714

   132,845

   419,604

   981,307

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,011

     1,458

    11,058

     1,256

     2,916

     6,788

     1,462

     1,275

       615

       167

       363

       818

     4,835

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

 8,349,173

   206,445

 4,138,441

   187,453

   354,042

   602,763

   544,197

   563,755

   127,172

    83,939

   133,281

   420,544

   987,141

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 1, 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 1, 2021

Federal Reserve notes outstanding

 2,374,734

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

   231,887

Federal Reserve notes to be collateralized

 2,142,848

Collateral held against Federal Reserve notes

 2,142,848

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,126,611

Other assets pledged

         0

Memo:

 

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

 7,806,085

Less: Face value of securities under reverse repurchase agreements

 1,308,516

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

 6,497,568

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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