Federal Reserve Statistical Release, H.4.1, Factors Affecting Reserve Balances; title with eagle logo links to Statistical Release home page
Release Date: Thursday, July 9, 2020
Release dates | Data Download Program (DDP) | About | Announcements | Technical Q&As
Current release  Other formats: Screen reader | ASCII | PDF (21 KB)
Try data download now image link

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

July 9, 2020

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
Jul 8, 2020

Week ended
Jul 8, 2020

Change from week ended

Jul 1, 2020

Jul 10, 2019

Reserve Bank credit

6,915,285

-   60,514

+3,140,119

6,881,742

Securities held outright1

6,134,474

+   16,223

+2,503,976

6,145,103

U.S. Treasury securities

4,220,727

+   16,186

+2,125,302

4,231,355

Bills2

   326,044

         0

+  326,040

   326,044

Notes and bonds, nominal2

3,588,645

+   12,556

+1,633,375

3,599,273

Notes and bonds, inflation-indexed2

   270,206

+    3,524

+  153,690

   270,206

Inflation compensation3

    35,832

+      106

+   12,198

    35,833

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

1,911,401

+       38

+  378,675

1,911,401

Unamortized premiums on securities held outright5

   314,652

+    1,074

+  183,982

   315,251

Unamortized discounts on securities held outright5

    -5,318

-       22

+    7,542

    -5,299

Repurchase agreements6

    41,286

-   34,093

+   41,286

         0

Foreign official

       143

-        1

+      143

         0

Others

    41,143

-   34,093

+   41,143

         0

Loans

    95,294

-    1,592

+   95,174

    93,355

Primary credit

     5,319

-      558

+    5,301

     4,846

Secondary credit

         0

         0

         0

         0

Seasonal credit

        19

+        6

-       83

        22

Primary Dealer Credit Facility

     2,276

-      340

+    2,276

     1,874

Money Market Mutual Fund Liquidity Facility

    19,624

-    1,993

+   19,624

    18,927

Paycheck Protection Program Liquidity Facility

    68,057

+    1,294

+   68,057

    67,685

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

    12,800

+        1

+   12,800

    12,802

Net portfolio holdings of Corporate Credit Facilities LLC7

    42,313

+      954

+   42,313

    42,644

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

    37,502

         0

+   37,502

    37,503

Net portfolio holdings of Municipal Liquidity Facility LLC7

    16,081

+        1

+   16,081

    16,082

Net portfolio holdings of TALF II LLC7

     8,753

         0

+    8,753

     8,753

Float

      -208

+      289

+        2

      -216

Central bank liquidity swaps8

   182,077

-   44,726

+  182,038

   179,095

Other Federal Reserve assets9

    35,578

+    1,375

+    8,669

    36,669

Foreign currency denominated assets10

    20,903

+       23

+       88

    20,973

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,415

+       14

+      478

    50,415

Total factors supplying reserve funds

7,002,844

-   60,478

+3,140,686

6,969,371

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


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
Jul 8, 2020

Week ended
Jul 8, 2020

Change from week ended

Jul 1, 2020

Jul 10, 2019

Currency in circulation11

1,974,841

+    7,620

+  223,890

1,977,346

Reverse repurchase agreements12

   228,115

+    8,016

-   67,253

   224,860

Foreign official and international accounts

   228,114

+    8,272

-   60,876

   224,859

Others

         1

-      257

-    6,376

         1

Treasury cash holdings

        61

-        4

-      107

        51

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

1,824,408

-    6,326

+1,553,213

1,791,570

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

1,653,098

-    4,522

+1,441,983

1,624,404

Foreign official

    17,119

+      902

+   11,866

    16,232

Other13

   154,191

-    2,706

+   99,364

   150,934

Treasury contributions to credit facilities14

   114,000

         0

+  114,000

   114,000

Other liabilities and capital15

    47,452

+    1,069

+    2,781

    48,248

Total factors, other than reserve balances,
absorbing reserve funds

4,188,877

+   10,374

+1,826,525

4,156,076

Reserve balances with Federal Reserve Banks

2,813,967

-   70,852

+1,314,161

2,813,296

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. Also includes net portfolio holdings of Maiden Lane LLC.  

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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.


Sources: Federal Reserve Banks and the U.S. Department of the Treasury.



1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Jul 8, 2020

Week ended
Jul 8, 2020

Change from week ended

Jul 1, 2020

Jul 10, 2019

Securities held in custody for foreign official and international accounts

3,402,678

-   11,368

-   55,550

3,400,818

Marketable U.S. Treasury securities1

2,949,322

-   10,970

-   84,616

2,947,548

Federal agency debt and mortgage-backed securities2

   368,639

-      123

+   22,432

   368,626

Other securities3

    84,717

-      276

+    6,635

    84,645

Securities lent to dealers

    32,135

+    3,957

+    2,199

    30,768

Overnight facility4

    32,135

+    3,957

+    2,199

    30,768

U.S. Treasury securities

    32,135

+    3,957

+    2,199

    30,768

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.



2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, July 8, 2020

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

     6,838

    12,475

     6,356

    67,685

         0

...

    93,355

U.S. Treasury securities2

Holdings

    66,114

   270,043

   618,085

1,607,239

   735,426

   934,448

4,231,355

Weekly changes

+    1,643

+   19,223

-   17,375

+    9,311

+    3,276

+    2,057

+   18,135

Federal agency debt securities3

Holdings

         0

         0

         0

         0

     1,436

       911

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

Holdings

         0

         0

         5

     2,302

    79,588

1,829,505

1,911,401

Weekly changes

         0

         0

         0

+      127

+      187

-      294

+       20

Commercial paper held by Commercial

Paper Funding Facility II LLC5

     2,739

     1,514

         0

...

...

...

     4,253

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6

         0

         0

         0

         0

...

...

         0

Municipal notes held by Municipal

Liquidity Facility LLC7

         0

         0

     1,200

         0

...

...

     1,200

Loans held by TALF II LLC8

         0

         0

         0

       252

...

...

       252

Repurchase agreements9

         0

         0

...

...

...

...

         0

Central bank liquidity swaps10

    90,531

    88,564

         0

         0

         0

         0

   179,095

Reverse repurchase agreements9

   224,860

         0

...

...

...

...

   224,860

Term deposits

         0

         0

         0

...

...

...

         0

Note: Components may not sum to totals because of rounding.
...Not applicable.

1.

Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with consolidation under generally accepted accounting principles.

2.

Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.

3.

Face value.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5.

Book value of commercial paper held by Commercial Paper Funding Facility II LLC.

6.

Book value of the loan participations held by the MS Facilities LLC.

7.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

8.

Book value of the loans held by the TALF II LLC.

9.

Cash value of agreements.

10.

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.


3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Jul 8, 2020

Mortgage-backed securities held outright1

1,911,401

Residential mortgage-backed securities

1,902,227

Commercial mortgage-backed securities

     9,174

Commitments to buy mortgage-backed securities2

   123,486

Commitments to sell mortgage-backed securities2

     3,758

Cash and cash equivalents3

        13

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 Jul 8, 2020

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

Commercial Paper Funding Facility II LLC

     4,243

     4,253

     8,549

    12,802

Corporate Credit Facilities LLC

    10,427

    10,716

    31,929

    42,644

MS Facilities LLC (Main Street Lending Program)

         0

         0

    37,503

    37,503

Municipal Liquidity Facility LLC

     1,200

     1,200

    14,882

    16,082

TALF II LLC

       252

       252

     8,501

     8,753

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 Commercial Paper Funding Facility II LLC includes commercial paper at book value.

b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances

    from trading activity are reported on a one-day lag after the transaction date.

c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value.

d. 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.

e. 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 initially 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6.


5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Jul 8, 2020

Change since

Wednesday

Wednesday

Jul 1, 2020

Jul 10, 2019

Assets

Gold certificate account

    11,037

         0

         0

Special drawing rights certificate account

     5,200

         0

         0

Coin

     1,497

+       22

-      173

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

6,548,409

-   45,852

+2,800,004

Securities held outright1

6,145,103

+   18,155

+2,514,582

U.S. Treasury securities

4,231,355

+   18,135

+2,135,907

Bills2

   326,044

         0

+  326,042

Notes and bonds, nominal2

3,599,273

+   18,134

+1,644,003

Notes and bonds, inflation-indexed2

   270,206

         0

+  153,690

Inflation compensation3

    35,833

+        2

+   12,174

Federal agency debt securities2

     2,347

         0

         0

Mortgage-backed securities4

1,911,401

+       20

+  378,675

Unamortized premiums on securities held outright5

   315,251

+      927

+  184,634

Unamortized discounts on securities held outright5

    -5,299

+       46

+    7,551

Repurchase agreements6

         0

-   61,201

         0

Loans7

    93,355

-    3,778

+   93,238

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

    12,802

+        3

+   12,802

Net portfolio holdings of Corporate Credit Facilities LLC8

    42,644

+      704

+   42,644

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

    37,503

+        1

+   37,503

Net portfolio holdings of Municipal Liquidity Facility LLC8

    16,082

+        1

+   16,082

Net portfolio holdings of TALF II LLC8

     8,753

         0

+    8,753

Items in process of collection

(0)

        51

+        5

-       39

Bank premises

     2,196

+        3

+       10

Central bank liquidity swaps9

   179,095

-   46,319

+  179,052

Foreign currency denominated assets10

    20,973

-       11

+      120

Other assets11

    34,473

+    3,118

+    8,917

Total assets

(0)

6,920,716

-   88,324

+3,105,678

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Jul 8, 2020

Change since

Wednesday

Wednesday

Jul 1, 2020

Jul 10, 2019

Liabilities

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

1,928,475

+    5,488

+  226,297

Reverse repurchase agreements12

   224,860

-    2,376

-   63,635

Deposits

(0)

4,604,866

-   93,220

+2,824,808

Term deposits held by depository institutions

         0

         0

         0

Other deposits held by depository institutions

2,813,296

-   49,900

+1,287,944

U.S. Treasury, General Account

1,624,404

-   32,343

+1,429,178

Foreign official

    16,232

+        9

+   10,978

Other13

(0)

   150,934

-   10,986

+   96,709

Deferred availability cash items

(0)

       266

-      535

-        4

Treasury contributions to credit facilities14

   114,000

         0

+  114,000

Other liabilities and accrued dividends15

     9,487

+    2,403

+    4,676

Total liabilities

(0)

6,881,955

-   88,240

+3,106,143

Capital accounts

Capital paid in

    31,936

-       84

-      466

Surplus

     6,825

         0

         0

Other capital accounts

         0

         0

         0

Total capital

    38,761

-       84

-      466

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. Also includes net portfolio holdings of Maiden Lane LLC.

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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.


6. Statement of Condition of Each Federal Reserve Bank, July 8, 2020

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

       533

     5,483

       529

       761

     1,165

     2,183

     1,137

       479

       270

       450

     1,202

     2,045

Coin

     1,497

        30

        42

       123

        87

       210

       149

       246

        27

        41

        92

       169

       281

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

6,548,409

   166,114

3,359,568

   153,766

   203,848

   410,392

   480,063

   364,948

   104,017

    65,637

   109,123

   313,897

   817,035

Net portfolio holdings of Commercial Paper Funding Facility II LLC2

    12,802

         0

    12,802

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC2

    42,644

         0

    42,644

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2

    37,503

    37,503

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

    16,082

         0

    16,082

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     8,753

         0

     8,753

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

   179,095

     8,501

    60,187

     6,445

    15,305

    37,801

     8,882

     6,955

     2,936

     1,402

     1,889

     2,126

    26,665

Foreign currency denominated

assets4

    20,973

       995

     7,050

       755

     1,792

     4,426

     1,040

       814

       344

       164

       221

       249

     3,122

Other assets5

    36,720

     2,452

    16,296

       889

     1,211

     2,581

     2,770

     2,084

       734

       486

       864

     1,901

     4,452

Interdistrict settlement account

         0

-   62,253

+  383,328

-   14,568

+   23,305

-   39,737

-   92,581

-   10,755

-   20,710

-   12,043

-   20,563

-   23,605

-  109,817

Total assets

6,920,716

   153,875

3,912,235

   147,938

   246,309

   416,838

   402,506

   365,430

    87,827

    55,957

    92,076

   295,940

   743,784

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


6. Statement of Condition of Each Federal Reserve Bank, July 8, 2020 (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

1,928,475

    58,333

   648,032

    56,226

    87,697

   124,439

   265,843

   126,526

    58,636

    30,686

    52,866

   163,780

   255,410

Reverse repurchase agreements6

   224,860

     5,050

   116,423

     5,130

     7,035

    14,093

    16,571

    12,559

     3,553

     2,125

     3,576

    10,837

    27,908

Deposits

4,604,866

    49,319

3,054,951

    84,917

   147,960

   269,397

   117,682

   224,312

    24,796

    22,416

    34,982

   120,258

   453,874

Depository institutions

2,813,296

    49,297

1,356,532

    84,916

   147,887

   268,838

   117,584

   133,888

    24,792

    22,361

    34,952

   118,381

   453,868

U.S. Treasury, General Account

1,624,404

         0

1,624,404

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

    16,232

         2

    16,206

         1

         3

         8

         2

         2

         1

         0

         0

         0

         6

Other7

   150,934

        21

    57,809

         0

        70

       551

        96

    90,423

         3

        55

        29

     1,876

         0

Earnings remittances due to the U.S. Treasury8

     2,351

        41

     1,281

        50

        75

       133

       163

       125

        28

        17

        35

       108

       296

Treasury contributions to credit facilities9

   114,000

    39,000

    75,000

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     7,402

       302

     3,541

       209

       244

       590

       492

       392

       179

       387

       201

       305

       561

Total liabilities

6,881,955

   152,045

3,899,228

   146,532

   243,011

   408,653

   400,753

   363,915

    87,191

    55,631

    91,659

   295,288

   738,049

Capital

Capital paid in

    31,936

     1,506

    10,714

     1,161

     2,715

     6,745

     1,414

     1,250

       523

       272

       344

       571

     4,719

Surplus

     6,825

       324

     2,294

       246

       583

     1,441

       338

       265

       112

        53

        72

        81

     1,016

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Total liabilities and capital

6,920,716

   153,875

3,912,235

   147,938

   246,309

   416,838

   402,506

   365,430

    87,827

    55,957

    92,076

   295,940

   743,784

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


6. Statement of Condition of Each Federal Reserve Bank, July 8, 2020 (continued)

1.

Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the purchase price and the face value of the securities that have not been amortized.  For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.

2.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate
equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

4.

Revalued daily at current foreign currency exchange rates.

5.

Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

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 a $6.825 billion surplus.

9.

Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) has extended loans to several 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.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The Federal Reserve Bank of Boston (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).

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Jul 8, 2020

Federal Reserve notes outstanding

2,080,559

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

   152,084

Federal Reserve notes to be collateralized

1,928,475

Collateral held against Federal Reserve notes

1,928,475

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

1,912,238

Other assets pledged

         0

Memo:

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

6,145,103

Less: Face value of securities under reverse repurchase agreements

   212,086

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

5,933,017

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.


Release dates | Data Download Program (DDP) | About | Announcements | Technical Q&As
Current release   Other formats: Screen reader | ASCII | PDF (21 KB)

Statistical releases