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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

March 10, 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
Mar 9, 2022

Week ended
Mar 9, 2022

Change from week ended

Mar 2, 2022

Mar 10, 2021

Reserve Bank credit

 8,870,119

+    3,683

+1,339,194

 8,872,934

Securities held outright1

 8,444,997

+    2,740

+1,429,618

 8,447,093

U.S. Treasury securities

 5,751,291

+    6,510

+  871,660

 5,753,385

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,960,714

+    4,290

+  778,291

 4,962,484

Notes and bonds, inflation-indexed2

   388,233

+    1,396

+   61,467

   388,233

Inflation compensation3

    76,300

+      824

+   31,902

    76,624

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,691,358

-    3,772

+  557,956

 2,691,361

Unamortized premiums on securities held outright5

   347,696

-      681

-    1,981

   347,626

Unamortized discounts on securities held outright5

   -20,412

-       19

-   12,823

   -20,452

Repurchase agreements6

         0

         0

-      500

         1

Foreign official

         0

         0

-      500

         1

Others

         0

         0

         0

         0

Loans

    27,670

-      228

-   28,755

    27,648

Primary credit

     2,061

+      496

+      610

     2,306

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-      251

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-      665

         0

Paycheck Protection Program Liquidity Facility

    25,609

-      723

-   28,448

    25,342

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,556

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   26,075

         0

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

    28,998

+        8

-    1,971

    29,005

Net portfolio holdings of Municipal Liquidity Facility LLC7

     6,907

-      193

-    4,638

     6,650

Net portfolio holdings of TALF II LLC7

     2,526

-        9

-    3,121

     2,526

Float

      -145

+      416

-       42

      -248

Central bank liquidity swaps8

       293

+       68

-    2,883

       293

Other Federal Reserve assets9

    31,590

+    1,583

+      923

    32,795

Foreign currency denominated assets10

    19,895

-      276

-    1,610

    19,985

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,953

+       14

+      442

    50,953

 

 

 

 

 

Total factors supplying reserve funds

 8,957,209

+    3,422

+1,338,027

 8,960,114

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
Mar 9, 2022

Week ended
Mar 9, 2022

Change from week ended

Mar 2, 2022

Mar 10, 2021

Currency in circulation11

 2,253,986

+   11,449

+  149,804

 2,259,013

Reverse repurchase agreements12

 1,753,350

-   89,911

+1,557,156

 1,786,246

Foreign official and international accounts

   251,635

-      818

+   56,187

   243,742

Others

 1,501,715

-   89,093

+1,500,969

 1,542,504

Treasury cash holdings

        36

+        3

-       60

        69

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

   919,767

-   35,167

-  708,425

   891,336

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   652,039

-   30,864

-  708,025

   609,369

Foreign official

     7,505

-    2,464

-   15,897

     7,606

Other13

   260,223

-    1,839

+   15,496

   274,362

Treasury contributions to credit facilities14

    21,258

         0

-   30,520

    21,258

Other liabilities and capital15

    49,153

+    2,106

+    2,424

    48,542

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,997,550

-  111,521

+  970,379

 5,006,464

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,959,659

+  114,943

+  367,649

 3,953,650

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
Mar 9, 2022

Week ended
Mar 9, 2022

Change from week ended

Mar 2, 2022

Mar 10, 2021

Securities held in custody for foreign official and international accounts

 3,432,692

-   20,295

-  136,887

 3,431,973

Marketable U.S. Treasury securities1

 3,025,016

-   18,765

-  102,374

 3,024,206

Federal agency debt and mortgage-backed securities2

   326,427

-      872

-   26,673

   326,590

Other securities3

    81,250

-      657

-    7,840

    81,177

Securities lent to dealers

    39,059

-       39

+    2,863

    38,854

Overnight facility4

    39,059

-       39

+    2,863

    38,854

U.S. Treasury securities

    39,059

-       39

+    2,863

    38,854

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, March 9, 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

     2,175

       850

        39

    24,585

         0

...

    27,648

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    56,809

   348,887

   771,555

 2,178,014

 1,001,812

 1,396,308

 5,753,385

Weekly changes

-    9,111

+    9,343

-      183

+      344

+    1,863

+    2,022

+    4,279

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

        43

     2,125

    65,954

 2,623,237

 2,691,361

Weekly changes

         0

+        1

-        1

         0

+      830

-      827

+        3

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    14,997

...

...

    14,997

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

         0

     1,275

...

...

     1,275

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       293

         0

         0

         0

         0

         0

       293

Reverse repurchase agreements8

 1,786,246

         0

...

...

...

...

 1,786,246

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

Mar 9, 2022

Mortgage-backed securities held outright1

 2,691,361

Residential mortgage-backed securities

 2,682,309

Commercial mortgage-backed securities

     9,052

 

 

Commitments to buy mortgage-backed securities2

    82,787

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 Mar 9, 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)

    14,727

    12,973

    16,031

    29,005

Municipal Liquidity Facility LLC

     2,907

     2,907

     3,743

     6,650

TALF II LLC

     1,327

     1,275

     1,251

     2,526

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 December 31, 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
Mar 9, 2022

Change since

Wednesday

Wednesday

Mar 2, 2022

Mar 10, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,283

         0

-      257

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

 

 8,801,915

+    3,534

+1,378,681

Securities held outright1

 

 8,447,093

+    4,282

+1,422,303

U.S. Treasury securities

 

 5,753,385

+    4,279

+  864,378

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,962,484

+    3,398

+  771,697

Notes and bonds, inflation-indexed2

 

   388,233

         0

+   60,610

Inflation compensation3

 

    76,624

+      882

+   32,071

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,691,361

+        3

+  557,925

Unamortized premiums on securities held outright5

 

   347,626

-      427

-    2,094

Unamortized discounts on securities held outright5

 

   -20,452

-       48

-   12,375

Repurchase agreements6

 

         1

         0

-      499

Loans7

 

    27,648

-      272

-   28,653

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,556

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   26,027

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

 

    29,005

+        9

-    1,973

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     6,650

-      451

-    4,898

Net portfolio holdings of TALF II LLC8

 

     2,526

         0

-    3,122

Items in process of collection

(0)

        59

-        1

-        4

Bank premises

 

     1,371

+        3

-      545

Central bank liquidity swaps9

 

       293

+       68

-    2,481

Foreign currency denominated assets10

 

    19,985

-      157

-    1,482

Other assets11

 

    31,425

+    3,288

+    1,510

 

 

 

 

 

Total assets

(0)

 8,910,748

+    6,293

+1,330,847

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
Mar 9, 2022

Change since

Wednesday

Wednesday

Mar 2, 2022

Mar 10, 2021

Liabilities

 

 

 

 

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

 

 2,209,407

+   10,471

+  151,788

Reverse repurchase agreements12

 

 1,786,246

+   10,594

+1,592,496

Deposits

(0)

 4,844,986

-   15,189

-  384,175

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,953,651

+   34,167

+  306,919

U.S. Treasury, General Account

 

   609,369

-   76,122

-  700,904

Foreign official

 

     7,606

+    1,322

-   15,868

Other13

(0)

   274,362

+   25,446

+   25,680

Deferred availability cash items

(0)

       308

-      399

+      134

Treasury contributions to credit facilities14

 

    21,258

         0

-   30,520

Other liabilities and accrued dividends15

 

     7,434

+      816

-      776

 

 

 

 

 

Total liabilities

(0)

 8,869,639

+    6,293

+1,328,946

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,324

         0

+    1,900

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,109

         0

+    1,900

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, March 9, 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

     1,283

        18

        24

       115

        51

       187

       107

       234

        22

        38

        91

       159

       236

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

 8,801,915

   146,638

 4,965,435

   185,343

   323,894

   588,328

   514,112

   478,842

   114,616

    77,350

   116,851

   388,151

   902,355

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    29,005

    29,005

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     6,650

         0

     6,650

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,526

         0

     2,526

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       293

        13

        98

        11

        25

        61

        13

        11

         6

         2

         3

         5

        43

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    19,985

       907

     6,718

       718

     1,728

     4,159

       904

       783

       380

       170

       216

       360

     2,943

Other assets5

    32,855

       637

    17,190

       786

     1,238

     2,482

     1,995

     1,792

       751

       445

       723

     1,535

     3,282

Interdistrict settlement account

         0

+   15,249

-  297,977

-    4,652

+   16,651

+   11,694

+   49,404

+  101,433

+   27,062

+    2,719

+   16,791

+   67,891

-    6,265

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,910,748

   192,999

 4,706,086

   182,843

   344,340

   608,097

   568,723

   584,232

   143,312

    80,999

   135,130

   459,320

   904,669

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, March 9, 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

 2,209,407

    72,724

   703,476

    59,485

   104,698

   153,740

   333,366

   129,383

    64,846

    33,757

    57,115

   191,612

   305,204

Reverse repurchase agreements6

 1,786,246

    29,850

 1,009,686

    37,727

    64,994

   119,693

   104,660

    97,476

    23,288

    13,821

    23,720

    78,991

   182,340

Deposits

 4,844,986

    74,017

 2,968,858

    83,881

   170,401

   325,417

   128,552

   355,331

    54,115

    33,001

    53,647

   187,315

   410,451

Depository institutions

 3,953,651

    73,993

 2,290,104

    83,880

   170,310

   324,790

   128,420

   146,588

    54,107

    32,566

    52,416

   186,126

   410,350

U.S. Treasury, General Account

   609,369

         0

   609,369

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,606

         2

     7,579

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   274,362

        22

    61,806

         0

        87

       619

       131

   208,741

         7

       435

     1,231

     1,188

        95

Earnings remittances due to the U.S. Treasury8

     3,273

        44

     1,939

        65

       110

       203

       185

       174

        32

        18

        37

       141

       325

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

     4,468

    -1,225

     2,499

       189

       213

       607

       630

       360

       166

       153

       187

       247

       442

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,869,639

   191,085

 4,692,043

   181,347

   340,416

   599,660

   567,393

   582,724

   142,447

    80,751

   134,705

   458,306

   898,762

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,324

     1,621

    11,680

     1,244

     3,261

     7,077

     1,110

     1,250

       728

       214

       354

       851

     4,934

Surplus

     6,785

       292

     2,363

       252

       663

     1,361

       221

       257

       137

        34

        70

       163

       973

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,910,748

   192,999

 4,706,086

   182,843

   344,340

   608,097

   568,723

   584,232

   143,312

    80,999

   135,130

   459,320

   904,669

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, March 9, 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

Mar 9, 2022

Federal Reserve notes outstanding

 2,480,112

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

   270,705

Federal Reserve notes to be collateralized

 2,209,407

Collateral held against Federal Reserve notes

 2,209,407

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,193,170

Other assets pledged

         0

Memo:

 

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

 8,447,094

Less: Face value of securities under reverse repurchase agreements

 1,796,165

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

 6,650,929

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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