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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 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
Dec 1, 2021

Week ended
Dec 1, 2021

Change from week ended

Nov 24, 2021

Dec 2, 2020

Reserve Bank credit

 8,610,372

-   41,001

+1,433,337

 8,611,850

Securities held outright1

 8,161,519

-   36,052

+1,547,562

 8,165,351

U.S. Treasury securities

 5,582,764

+    6,415

+  974,771

 5,592,119

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,811,627

+    3,621

+  876,673

 4,819,804

Notes and bonds, inflation-indexed2

   377,023

+    2,231

+   73,148

   377,998

Inflation compensation3

    68,070

+      563

+   24,950

    68,274

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,576,407

-   42,467

+  572,790

 2,570,884

Unamortized premiums on securities held outright5

   353,915

-    1,691

+   14,036

   353,919

Unamortized discounts on securities held outright5

   -17,330

-       24

-   12,335

   -17,450

Repurchase agreements6

         0

         0

-    1,000

         1

Foreign official

         0

         0

-    1,000

         1

Others

         0

         0

         0

         0

Loans

    41,899

-    1,389

-   21,111

    40,990

Primary credit

       392

+       44

-    1,942

       429

Secondary credit

         0

         0

         0

         0

Seasonal credit

         4

-        1

+        4

         0

Primary Dealer Credit Facility

         0

         0

-      243

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    4,915

         0

Paycheck Protection Program Liquidity Facility

    41,503

-    1,432

-   14,015

    40,561

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,559

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         2

-       73

-   46,026

         2

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

    29,578

-      120

-   13,920

    29,584

Net portfolio holdings of Municipal Liquidity Facility LLC7

     7,953

+        1

-    8,602

     7,954

Net portfolio holdings of TALF II LLC7

     2,643

-        7

-    9,575

     2,626

Float

      -346

-      196

+      118

      -581

Central bank liquidity swaps8

       268

         0

-    8,087

       268

Other Federal Reserve assets9

    30,271

-    1,452

+      837

    29,186

Foreign currency denominated assets10

    20,387

+       45

-    1,555

    20,488

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,894

+       14

+      456

    50,894

 

 

 

 

 

Total factors supplying reserve funds

 8,697,894

-   40,942

+1,432,239

 8,699,473

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 1, 2021

Week ended
Dec 1, 2021

Change from week ended

Nov 24, 2021

Dec 2, 2020

Currency in circulation11

 2,220,819

+    4,533

+  153,700

 2,221,789

Reverse repurchase agreements12

 1,764,207

-   89,801

+1,575,147

 1,729,277

Foreign official and international accounts

   305,512

+    9,917

+  116,453

   301,930

Others

 1,458,695

-   99,719

+1,458,694

 1,427,347

Treasury cash holdings

        70

+        8

+       26

        69

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

   418,466

-   15,921

-1,309,791

   413,008

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   152,651

-   11,436

-1,378,402

   159,148

Foreign official

     7,420

+    1,014

-   13,859

     5,794

Other13

   258,395

-    5,499

+   82,470

   248,067

Treasury contributions to credit facilities14

    21,258

-      734

-   92,742

    21,258

Other liabilities and capital15

    48,209

-    1,082

-    1,658

    48,049

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,473,029

-  102,997

+  324,681

 4,433,451

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,224,865

+   62,055

+1,107,558

 4,266,022

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 1, 2021

Week ended
Dec 1, 2021

Change from week ended

Nov 24, 2021

Dec 2, 2020

Securities held in custody for foreign official and international accounts

 3,458,556

-   16,514

-    9,026

 3,455,232

Marketable U.S. Treasury securities1

 3,052,763

-   10,614

+   33,237

 3,049,911

Federal agency debt and mortgage-backed securities2

   323,181

-    5,483

-   38,086

   323,055

Other securities3

    82,612

-      418

-    4,177

    82,266

Securities lent to dealers

    32,755

+      458

+    1,357

    35,974

Overnight facility4

    32,755

+      458

+    1,357

    35,974

U.S. Treasury securities

    32,755

+      458

+    1,357

    35,974

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 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

       220

       209

     2,291

    38,270

         0

...

    40,990

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    65,830

   343,938

   711,536

 2,129,818

 1,006,138

 1,334,859

 5,592,119

Weekly changes

-    4,660

+   20,970

-    3,914

-       11

-    3,066

+    3,900

+   13,219

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

        29

     1,586

    61,395

 2,507,873

 2,570,884

Weekly changes

         0

+        1

+        2

-       86

-    1,318

-   37,440

-   38,842

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,772

...

...

    15,772

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,228

...

...

     4,228

Loans held by TALF II LLC7

         0

         0

         0

     1,360

...

...

     1,360

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       218

        50

         0

         0

         0

         0

       268

Reverse repurchase agreements8

 1,729,277

         0

...

...

...

...

 1,729,277

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 1, 2021

Mortgage-backed securities held outright1

 2,570,884

Residential mortgage-backed securities

 2,561,597

Commercial mortgage-backed securities

     9,287

 

 

Commitments to buy mortgage-backed securities2

   110,530

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         3

 

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 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

         0

         0

         2

         2

MS Facilities LLC (Main Street Lending Program)

    15,684

    13,442

    16,142

    29,584

Municipal Liquidity Facility LLC

     4,228

     4,228

     3,727

     7,954

TALF II LLC

     1,431

     1,360

     1,266

     2,626

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 1, 2021

Change since

Wednesday

Wednesday

Nov 24, 2021

Dec 2, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,187

-        8

-      327

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

 

 8,542,811

-   28,201

+1,524,708

Securities held outright1

 

 8,165,351

-   25,622

+1,544,973

U.S. Treasury securities

 

 5,592,119

+   13,219

+  977,709

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,819,804

+   10,572

+  879,422

Notes and bonds, inflation-indexed2

 

   377,998

+    2,205

+   73,172

Inflation compensation3

 

    68,274

+      442

+   25,116

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,570,884

-   38,842

+  567,263

Unamortized premiums on securities held outright5

 

   353,919

-    1,167

+   13,742

Unamortized discounts on securities held outright5

 

   -17,450

-      148

-   12,384

Repurchase agreements6

 

         1

+        1

-      999

Loans7

 

    40,990

-    1,265

-   20,623

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,563

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         2

         0

-   46,076

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

 

    29,584

+        8

-   14,199

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     7,954

+        1

-    8,602

Net portfolio holdings of TALF II LLC8

 

     2,626

-       24

-    9,492

Items in process of collection

(0)

        59

-       50

-       15

Bank premises

 

     1,379

-       65

-      813

Central bank liquidity swaps9

 

       268

         0

-    8,181

Foreign currency denominated assets10

 

    20,488

+      317

-    1,630

Other assets11

 

    27,807

-    3,348

+    1,176

 

 

 

 

 

Total assets

(0)

 8,650,402

-   31,369

+1,427,988

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 1, 2021

Change since

Wednesday

Wednesday

Nov 24, 2021

Dec 2, 2020

Liabilities

 

 

 

 

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

 

 2,172,147

+    2,241

+  153,323

Reverse repurchase agreements12

 

 1,729,277

-   29,538

+1,543,740

Deposits

(0)

 4,679,030

-    4,645

-  173,700

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,266,022

+   93,215

+1,164,787

U.S. Treasury, General Account

 

   159,148

+   18,106

-1,398,091

Foreign official

 

     5,794

-    1,943

-   15,494

Other13

(0)

   248,067

-  114,022

+   75,100

Deferred availability cash items

(0)

       640

+      332

-       18

Treasury contributions to credit facilities14

 

    21,258

         0

-   92,742

Other liabilities and accrued dividends15

 

     7,396

+      234

-    4,042

 

 

 

 

 

Total liabilities

(0)

 8,609,749

-   31,376

+1,426,562

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,868

+        7

+    1,465

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    40,653

+        7

+    1,425

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 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

     1,187

        12

        20

       115

        43

       174

       102

       223

        16

        32

        85

       146

       219

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

 8,542,811

   142,110

 4,811,651

   179,770

   316,706

   570,284

   498,400

   464,229

   111,309

    79,331

   113,458

   376,296

   879,267

Net portfolio holdings of Corporate Credit Facilities LLC2

         2

         0

         2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    29,584

    29,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     7,954

         0

     7,954

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,626

         0

     2,626

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       268

        12

        90

        10

        23

        56

        12

        10

         5

         2

         3

         5

        39

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,488

       930

     6,887

       736

     1,771

     4,263

       927

       803

       390

       174

       222

       369

     3,017

Other assets5

    29,245

       583

    15,027

       714

     1,117

     2,225

     1,811

     1,621

       679

       415

       683

     1,393

     2,978

Interdistrict settlement account

         0

+   47,700

-  565,456

+    2,488

+   53,698

+   63,461

+   77,923

+  112,493

+   26,342

+    1,110

+   25,094

+   60,281

+   94,867

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,650,402

   221,462

 4,284,223

   184,355

   374,110

   641,651

   581,363

   580,515

   139,216

    81,337

   139,999

   439,709

   982,462

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 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

 2,172,147

    72,022

   692,608

    61,569

   104,041

   154,206

   322,331

   121,852

    64,828

    32,984

    55,539

   193,455

   296,713

Reverse repurchase agreements6

 1,729,277

    28,898

   977,484

    36,524

    62,922

   115,875

   101,322

    94,367

    22,545

    13,380

    22,963

    76,471

   176,525

Deposits

 4,679,030

   104,643

 2,589,912

    84,493

   202,886

   362,459

   155,147

   362,225

    50,814

    34,549

    60,832

   168,468

   502,604

Depository institutions

 4,266,022

   104,625

 2,372,203

    84,491

   202,844

   361,777

   154,899

   170,538

    50,805

    34,284

    59,072

   167,942

   502,542

U.S. Treasury, General Account

   159,148

         0

   159,148

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,794

         2

     5,768

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   248,067

        16

    52,794

         0

        39

       673

       246

   191,686

         8

       265

     1,759

       525

        56

Earnings remittances due to the U.S. Treasury8

     1,395

        34

       680

        30

        65

       228

        76

        58

        14

         9

        12

        46

       145

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

     6,641

    -1,575

     3,881

       240

       299

       678

     1,073

       464

       212

       187

       231

       333

       619

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,609,749

   219,695

 4,270,148

   182,855

   370,213

   633,446

   579,949

   578,966

   138,413

    81,109

   139,577

   438,774

   976,606

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,868

     1,459

    11,795

     1,256

     3,310

     6,793

     1,108

     1,284

       674

       170

       349

       814

     4,856

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

 8,650,402

   221,462

 4,284,223

   184,355

   374,110

   641,651

   581,363

   580,515

   139,216

    81,337

   139,999

   439,709

   982,462

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 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 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 1, 2021

Federal Reserve notes outstanding

 2,425,325

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

   253,178

Federal Reserve notes to be collateralized

 2,172,147

Collateral held against Federal Reserve notes

 2,172,147

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,155,910

Other assets pledged

         0

Memo:

 

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

 8,165,352

Less: Face value of securities under reverse repurchase agreements

 1,665,578

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

 6,499,774

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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