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Release Date: Thursday, January 13, 2022
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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

January 13, 2022

 

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
Jan 12, 2022

Week ended
Jan 12, 2022

Change from week ended

Jan 5, 2022

Jan 13, 2021

Reserve Bank credit

 8,737,058

+   16,885

+1,455,651

 8,750,170

Securities held outright1

 8,290,063

+   17,427

+1,538,997

 8,302,651

U.S. Treasury securities

 5,672,155

+   17,414

+  962,967

 5,684,737

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,884,546

+   13,917

+  861,271

 4,896,806

Notes and bonds, inflation-indexed2

   387,783

+    2,389

+   71,589

   387,911

Inflation compensation3

    73,782

+    1,108

+   30,107

    73,976

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,615,562

+       14

+  576,030

 2,615,567

Unamortized premiums on securities held outright5

   352,790

+        9

+    9,423

   352,670

Unamortized discounts on securities held outright5

   -18,093

-       59

-   12,542

   -18,260

Repurchase agreements6

         0

-        2

-    1,000

         1

Foreign official

         0

         0

-    1,000

         1

Others

         0

-        2

         0

         0

Loans

    33,142

-    1,112

-   19,594

    32,688

Primary credit

       393

-      101

-    1,068

       411

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-      485

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    2,129

         0

Paycheck Protection Program Liquidity Facility

    32,748

-    1,012

-   15,913

    32,277

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,557

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   26,306

         0

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

    29,416

+        7

-    6,847

    29,423

Net portfolio holdings of Municipal Liquidity Facility LLC7

     7,865

+        1

-    3,737

     7,866

Net portfolio holdings of TALF II LLC7

     2,601

-        3

-    4,075

     2,601

Float

      -129

+      295

-       40

      -111

Central bank liquidity swaps8

       364

-    2,976

-   10,786

       364

Other Federal Reserve assets9

    39,040

+    3,300

+      717

    40,277

Foreign currency denominated assets10

    20,335

-       34

-    1,865

    20,462

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,956

+       14

+      496

    50,956

 

 

 

 

 

Total factors supplying reserve funds

 8,824,590

+   16,865

+1,454,282

 8,837,829

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
Jan 12, 2022

Week ended
Jan 12, 2022

Change from week ended

Jan 5, 2022

Jan 13, 2021

Currency in circulation11

 2,234,615

-    2,345

+  142,941

 2,232,962

Reverse repurchase agreements12

 1,842,080

-  150,462

+1,639,214

 1,862,045

Foreign official and international accounts

   309,899

+   28,532

+  107,033

   325,064

Others

 1,532,180

-  178,995

+1,532,180

 1,536,981

Treasury cash holdings

        65

         0

+       33

        70

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

   704,531

+   55,979

-1,081,379

   744,149

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   456,401

+   66,650

-1,133,020

   489,679

Foreign official

     6,178

-    1,501

-   15,670

     5,190

Other13

   241,952

-    9,170

+   67,311

   249,280

Treasury contributions to credit facilities14

    21,258

         0

-   33,510

    21,258

Other liabilities and capital15

    48,487

-      130

-    2,653

    48,411

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,851,036

-   96,958

+  664,645

 4,908,896

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,973,554

+  113,823

+  789,637

 3,928,933

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
Jan 12, 2022

Week ended
Jan 12, 2022

Change from week ended

Jan 5, 2022

Jan 13, 2021

Securities held in custody for foreign official and international accounts

 3,433,580

+   18,523

-   83,311

 3,432,267

Marketable U.S. Treasury securities1

 3,034,599

+   18,545

-   40,897

 3,033,713

Federal agency debt and mortgage-backed securities2

   317,438

-      121

-   37,116

   317,234

Other securities3

    81,543

+       99

-    5,299

    81,320

Securities lent to dealers

    38,875

+      657

+    7,874

    37,044

Overnight facility4

    38,875

+      657

+    7,874

    37,044

U.S. Treasury securities

    38,875

+      657

+    7,874

    37,044

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, January 12, 2022

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

       127

       342

     1,287

    30,932

         0

...

    32,688

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    77,335

   329,686

   727,986

 2,165,265

 1,027,296

 1,357,170

 5,684,737

Weekly changes

+    5,538

-    4,915

+      568

+   10,681

+    7,918

+    3,671

+   23,460

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

        34

     2,009

    61,449

 2,552,075

 2,615,567

Weekly changes

         0

         0

         0

         0

         0

+        7

+        7

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,380

...

...

    15,380

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

       773

         0

         0

     3,358

...

...

     4,131

Loans held by TALF II LLC7

         0

         0

         0

     1,346

...

...

     1,346

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       314

        50

         0

         0

         0

         0

       364

Reverse repurchase agreements8

 1,862,045

         0

...

...

...

...

 1,862,045

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

Jan 12, 2022

Mortgage-backed securities held outright1

 2,615,567

Residential mortgage-backed securities

 2,606,329

Commercial mortgage-backed securities

     9,237

 

 

Commitments to buy mortgage-backed securities2

   129,911

Commitments to sell mortgage-backed securities2

        81

 

 

Cash and cash equivalents3

         5

 

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 Jan 12, 2022

 

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

MS Facilities LLC (Main Street Lending Program)

    15,478

    13,054

    16,368

    29,423

Municipal Liquidity Facility LLC

     4,131

     4,131

     3,735

     7,866

TALF II LLC

     1,405

     1,346

     1,255

     2,601

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 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.

 

b. 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.

 

c. 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
Jan 12, 2022

Change since

Wednesday

Wednesday

Jan 5, 2022

Jan 13, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,228

+       16

-      344

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

 

 8,669,751

+   21,992

+1,512,915

Securities held outright1

 

 8,302,651

+   23,467

+1,537,029

U.S. Treasury securities

 

 5,684,737

+   23,460

+  961,004

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,896,806

+   22,006

+  860,825

Notes and bonds, inflation-indexed2

 

   387,911

+      901

+   70,002

Inflation compensation3

 

    73,976

+      553

+   30,176

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,615,567

+        7

+  576,025

Unamortized premiums on securities held outright5

 

   352,670

-      111

+    9,038

Unamortized discounts on securities held outright5

 

   -18,260

-      197

-   12,690

Repurchase agreements6

 

         1

+        1

-      999

Loans7

 

    32,688

-    1,169

-   19,464

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,557

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   26,310

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

 

    29,423

+        9

-    3,859

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     7,866

+        1

-    3,739

Net portfolio holdings of TALF II LLC8

 

     2,601

         0

-    4,076

Items in process of collection

(0)

        71

+       15

-       22

Bank premises

 

     1,408

+        8

-      802

Central bank liquidity swaps9

 

       364

-    2,976

-   10,786

Foreign currency denominated assets10

 

    20,462

+      185

-    1,679

Other assets11

 

    38,869

+    3,309

+    1,572

 

 

 

 

 

Total assets

(0)

 8,788,278

+   22,557

+1,454,310

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
Jan 12, 2022

Change since

Wednesday

Wednesday

Jan 5, 2022

Jan 13, 2021

Liabilities

 

 

 

 

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

 

 2,183,300

-    4,239

+  139,913

Reverse repurchase agreements12

 

 1,862,045

+   66,427

+1,647,872

Deposits

(0)

 4,673,082

-   40,851

-  301,404

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,928,933

-   99,527

+  728,064

U.S. Treasury, General Account

 

   489,679

+   54,922

-1,086,196

Foreign official

 

     5,190

-      184

-   16,652

Other13

(0)

   249,280

+    3,939

+   73,380

Deferred availability cash items

(0)

       181

-       36

-        6

Treasury contributions to credit facilities14

 

    21,258

         0

-   30,520

Other liabilities and accrued dividends15

 

     7,914

+    1,255

-    2,838

 

 

 

 

 

Total liabilities

(0)

 8,747,781

+   22,558

+1,453,018

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,712

-        1

+    1,332

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    40,497

-        1

+    1,292

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, January 12, 2022

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

     1,228

        15

        24

       111

        47

       177

       115

       226

        18

        34

        87

       153

       223

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

 8,669,751

   144,403

 4,886,614

   182,487

   320,255

   579,261

   506,196

   471,431

   112,950

    78,704

   115,123

   382,131

   890,195

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    29,423

    29,423

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     7,866

         0

     7,866

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,601

         0

     2,601

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       364

        17

       122

        13

        31

        76

        16

        14

         7

         3

         4

         7

        54

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,462

       929

     6,879

       735

     1,769

     4,258

       925

       802

       389

       174

       221

       369

     3,013

Other assets5

    40,348

       774

    21,318

       955

     1,532

     3,013

     2,484

     2,235

       670

       513

       843

     1,893

     4,118

Interdistrict settlement account

         0

+   13,502

-  402,866

+    5,308

+   18,294

+   29,635

+   69,541

+   85,746

+   26,443

+    1,873

+   23,986

+   65,160

+   63,378

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,788,278

   189,593

 4,527,980

   190,132

   342,681

   617,606

   581,466

   561,590

   140,951

    81,574

   140,718

   450,932

   963,056

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, January 12, 2022 (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

 2,183,300

    72,994

   700,321

    61,813

   102,911

   153,930

   326,424

   121,638

    64,862

    33,132

    56,473

   191,437

   297,364

Reverse repurchase agreements6

 1,862,045

    31,116

 1,052,532

    39,328

    67,753

   124,772

   109,101

   101,612

    24,276

    14,408

    24,726

    82,343

   190,078

Deposits

 4,673,082

    69,517

 2,750,901

    87,213

   167,744

   329,696

   143,777

   336,187

    50,774

    33,611

    58,858

   175,770

   469,035

Depository institutions

 3,928,933

    69,501

 2,199,035

    87,211

   167,689

   328,882

   143,665

   146,614

    50,766

    32,928

    58,066

   175,611

   468,964

U.S. Treasury, General Account

   489,679

         0

   489,679

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,190

         2

     5,164

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   249,280

        14

    57,023

         0

        51

       806

       110

   189,571

         7

       682

       792

       159

        65

Earnings remittances due to the U.S. Treasury8

     2,990

        41

     1,711

        61

       115

       212

       173

       157

        36

        16

        32

       124

       314

Treasury contributions to credit facilities9

    21,258

    15,674

     5,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     5,106

    -1,523

     2,853

       230

       261

       791

       590

       445

       192

       180

       207

       322

       559

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,747,781

   187,819

 4,513,902

   188,644

   338,783

   609,401

   580,065

   560,039

   140,140

    81,346

   140,296

   449,996

   957,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,712

     1,465

    11,797

     1,244

     3,311

     6,793

     1,093

     1,285

       682

       171

       348

       814

     4,708

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

 8,788,278

   189,593

 4,527,980

   190,132

   342,681

   617,606

   581,466

   561,590

   140,951

    81,574

   140,718

   450,932

   963,056

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, January 12, 2022 (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

Jan 12, 2022

Federal Reserve notes outstanding

 2,444,903

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

   261,604

Federal Reserve notes to be collateralized

 2,183,300

Collateral held against Federal Reserve notes

 2,183,300

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,167,063

Other assets pledged

         0

Memo:

 

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

 8,302,652

Less: Face value of securities under reverse repurchase agreements

 1,826,002

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

 6,476,651

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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