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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

August 26, 2021

 

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Aug 25, 2021

Week ended
Aug 25, 2021

Change from week ended

Aug 18, 2021

Aug 26, 2020

Reserve Bank credit

 8,323,904

+   25,782

+1,348,589

 8,293,870

Securities held outright1

 7,812,573

+   37,063

+1,479,245

 7,786,785

U.S. Treasury securities

 5,339,834

+   25,984

+  986,598

 5,346,372

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,599,758

+   23,403

+  886,770

 4,604,044

Notes and bonds, inflation-indexed2

   353,630

+    1,602

+   76,724

   355,345

Inflation compensation3

    60,403

+      980

+   23,105

    60,939

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,470,391

+   11,078

+  492,646

 2,438,067

Unamortized premiums on securities held outright5

   354,872

+       40

+   28,266

   354,033

Unamortized discounts on securities held outright5

   -15,220

-      265

-   10,213

   -15,213

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    79,568

-    2,071

-    1,995

    78,094

Primary credit

       360

+       67

-    2,282

       278

Secondary credit

         0

         0

         0

         0

Seasonal credit

        28

+        5

-       12

        28

Primary Dealer Credit Facility

         0

         0

-      532

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-   10,427

         0

Paycheck Protection Program Liquidity Facility

    79,180

-    2,143

+   11,259

    77,788

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,588

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

    17,116

+        2

-   27,426

    17,116

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

    30,535

-       21

-    7,663

    30,543

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,766

+        1

-    6,387

     9,768

Net portfolio holdings of TALF II LLC7

     4,513

         0

-    6,258

     4,514

Float

      -128

-        8

+       77

      -133

Central bank liquidity swaps8

       347

-      150

-   91,793

       326

Other Federal Reserve assets9

    29,960

-    8,812

+    1,321

    28,038

Foreign currency denominated assets10

    21,150

-       52

-      445

    21,179

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,824

+       14

+      525

    50,824

 

 

 

 

 

Total factors supplying reserve funds

 8,412,119

+   25,744

+1,348,669

 8,382,114

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
Aug 25, 2021

Week ended
Aug 25, 2021

Change from week ended

Aug 18, 2021

Aug 26, 2020

Currency in circulation11

 2,187,318

-      646

+  176,327

 2,188,700

Reverse repurchase agreements12

 1,386,246

+   56,586

+1,172,990

 1,405,110

Foreign official and international accounts

   263,649

-    2,340

+   50,417

   258,021

Others

 1,122,597

+   58,927

+1,122,573

 1,147,089

Treasury cash holdings

        52

+        4

-        8

        43

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

   581,178

-    9,665

-1,280,021

   497,782

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   301,430

-   37,378

-1,321,260

   258,200

Foreign official

     7,387

-      366

-    9,225

     8,324

Other13

   272,361

+   28,079

+   50,463

   231,258

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    49,299

-    1,571

+    1,150

    46,725

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,244,371

+   44,707

-    3,285

 4,178,639

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,167,748

-   18,963

+1,351,954

 4,203,475

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

1.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2.

Face value of the securities.

3.

Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4.

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

the securities.

5.

Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements.

7.

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

8.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the

foreign central bank.

9.

Includes bank premises, accrued interest, and other accounts receivable.

10.

Revalued daily at current foreign currency exchange rates.

11.

Estimated.

12.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

13.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

14.

Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

15.

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

 

 

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


 

 


 

H.4.1

 

1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Aug 25, 2021

Week ended
Aug 25, 2021

Change from week ended

Aug 18, 2021

Aug 26, 2020

Securities held in custody for foreign official and international accounts

 3,501,608

-      585

+   88,280

 3,487,788

Marketable U.S. Treasury securities1

 3,067,747

-      287

+   95,579

 3,063,316

Federal agency debt and mortgage-backed securities2

   341,628

-      166

-   13,537

   332,338

Other securities3

    92,233

-      132

+    6,238

    92,134

Securities lent to dealers

    30,649

+      136

+    4,239

    28,838

Overnight facility4

    30,649

+      136

+    4,239

    28,838

U.S. Treasury securities

    30,649

+      136

+    4,239

    28,838

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, August 25, 2021

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans1

       103

       203

     8,613

    69,174

         0

...

    78,094

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    79,378

   297,972

   696,821

 2,033,296

   981,487

 1,257,417

 5,346,372

Weekly changes

-      413

+      457

+       24

+   12,051

+    8,379

+    2,223

+   22,721

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,134

       213

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         0

        16

     1,723

    62,739

 2,373,589

 2,438,067

Weekly changes

         0

         0

-        2

-       89

-      991

-   26,489

-   27,571

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    16,064

...

...

    16,064

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,461

...

...

     1,461

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       221

       105

         0

         0

         0

         0

       326

Reverse repurchase agreements8

 1,405,110

         0

...

...

...

...

 1,405,110

Term deposits

         0

         0

         0

...

...

...

         0

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

 

1.

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

2.

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

3.

Face value.

4.

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

5.

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

6.

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

7.

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

8.

Cash value of agreements.

9.

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

 

 


 

H.4.1

 

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Aug 25, 2021

Mortgage-backed securities held outright1

 2,438,067

Residential mortgage-backed securities

 2,428,442

Commercial mortgage-backed securities

     9,625

 

 

Commitments to buy mortgage-backed securities2

   108,398

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

        16

 

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 Aug 25, 2021

 

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

Corporate Credit Facilities LLC

     4,803

       781

    16,335

    17,116

MS Facilities LLC (Main Street Lending Program)

    16,050

    13,519

    17,024

    30,543

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,394

     9,768

TALF II LLC

     1,482

     1,461

     3,053

     4,514

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

1.

Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity.

2.

Outstanding amount of facility asset purchases:

 

a. For the Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. Asset balances from trading activity are

 

    reported on a one-day lag after the transaction date.

 

b. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 

    updated as of June 30, 2021.

 

c. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 

    a one-day lag after the transaction date.

 

d. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3.

Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the credit facilities from the following consolidated LLCs: Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6.


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Aug 25, 2021

Change since

Wednesday

Wednesday

Aug 18, 2021

Aug 26, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,239

         0

-      251

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

 

 8,203,699

-    8,493

+1,491,379

Securities held outright1

 

 7,786,785

-    4,851

+1,476,651

U.S. Treasury securities

 

 5,346,372

+   22,721

+  987,813

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,604,044

+   19,602

+  885,875

Notes and bonds, inflation-indexed2

 

   355,345

+    2,001

+   78,439

Inflation compensation3

 

    60,939

+    1,118

+   23,499

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,438,067

-   27,571

+  488,839

Unamortized premiums on securities held outright5

 

   354,033

-      907

+   27,963

Unamortized discounts on securities held outright5

 

   -15,213

-       22

-   10,224

Repurchase agreements6

 

         0

         0

         0

Loans7

 

    78,094

-    2,714

-    3,011

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,588

Net portfolio holdings of Corporate Credit Facilities LLC8

 

    17,116

         0

-   27,488

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

 

    30,543

+        9

-    7,828

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,768

+        2

-    6,773

Net portfolio holdings of TALF II LLC8

 

     4,514

+        1

-    6,257

Items in process of collection

(0)

        82

+       12

+       37

Bank premises

 

     1,592

-       71

-      605

Central bank liquidity swaps9

 

       326

-      162

-   91,814

Foreign currency denominated assets10

 

    21,179

+       51

-      415

Other assets11

 

    26,449

-    1,203

+      928

 

 

 

 

 

Total assets

(0)

 8,332,743

-    9,855

+1,342,325

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
Aug 25, 2021

Change since

Wednesday

Wednesday

Aug 18, 2021

Aug 26, 2020

Liabilities

 

 

 

 

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

 

 2,139,155

+      587

+  174,042

Reverse repurchase agreements12

 

 1,405,110

+   19,709

+1,192,035

Deposits

(0)

 4,701,260

-   28,525

+   49,053

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,203,478

+   41,313

+1,328,078

U.S. Treasury, General Account

 

   258,200

-   55,451

-1,349,249

Foreign official

 

     8,324

+    1,092

-    8,290

Other13

(0)

   231,258

-   15,479

+   78,515

Deferred availability cash items

(0)

       215

+       16

-      156

Treasury contributions to credit facilities14

 

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

 

     6,960

-    1,666

+      238

 

 

 

 

 

Total liabilities

(0)

 8,292,978

-    9,878

+1,341,491

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    32,980

+       23

+      874

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,765

+       23

+      834

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

1.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2.

Face value of the securities.

3.

Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4.

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

5.

Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7.

Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.

8.

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

9.

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

10.

Revalued daily at current foreign currency exchange rates.

11.

Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

12.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

14.

Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

15.

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 25, 2021

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold certificates and special drawing rights certificates

    16,237

       531

     5,422

       523

       752

     1,187

     2,188

     1,136

       475

       273

       455

     1,220

     2,075

Coin

     1,239

        16

        22

       115

        56

       180

       114

       234

        15

        30

        87

       145

       225

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

 8,203,699

   135,858

 4,602,615

   174,725

   311,212

   545,735

   476,704

   444,069

   106,696

    87,640

   109,440

   360,228

   848,775

Net portfolio holdings of Corporate Credit Facilities LLC2

    17,116

         0

    17,116

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,543

    30,543

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,768

         0

     9,768

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,514

         0

     4,514

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       326

        15

       110

        12

        28

        68

        15

        13

         6

         3

         4

         6

        48

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    21,179

       961

     7,119

       760

     1,831

     4,407

       958

       830

       403

       180

       229

       382

     3,119

Other assets5

    28,123

       556

    14,389

       693

     1,080

     2,141

     1,779

     1,564

       676

       384

       661

     1,339

     2,862

Interdistrict settlement account

         0

+   29,074

-  505,434

+   14,723

+   30,258

+   50,575

+   65,107

+  113,190

+   17,876

-    5,773

+   21,375

+   55,094

+  113,935

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,332,743

   197,555

 4,155,640

   191,550

   345,217

   604,293

   546,865

   561,036

   126,147

    82,735

   132,251

   418,415

   971,039

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, August 25, 2021 (continued)

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal Reserve notes, net

 2,139,155

    69,603

   690,065

    63,362

   102,628

   154,887

   308,386

   125,080

    58,241

    32,995

    55,419

   195,844

   282,643

Reverse repurchase agreements6

 1,405,110

    23,481

   794,247

    29,677

    51,126

    94,154

    82,328

    76,677

    18,319

    10,872

    18,659

    62,136

   143,434

Deposits

 4,701,260

    87,971

 2,630,221

    96,721

   187,576

   346,237

   153,704

   357,125

    48,616

    38,297

    57,486

   159,053

   538,255

Depository institutions

 4,203,478

    87,959

 2,317,509

    96,720

   187,498

   345,544

   152,215

   175,444

    48,595

    38,014

    57,056

   158,838

   538,086

U.S. Treasury, General Account

   258,200

         0

   258,200

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,324

         2

     8,298

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   231,258

        10

    46,214

         0

        74

       684

     1,487

   181,679

        20

       283

       429

       214

       163

Earnings remittances due to the U.S. Treasury8

     1,237

        15

       728

        24

        45

        81

        74

        54

        14

         8

        14

        55

       126

Treasury contributions to credit facilities9

    40,278

    16,572

    23,706

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     5,937

    -1,853

     3,337

       267

       333

       767

       603

       559

       213

       339

       238

       388

       747

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,292,978

   195,790

 4,142,303

   190,051

   341,708

   596,125

   545,096

   559,495

   125,404

    82,510

   131,816

   417,476

   965,205

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    32,980

     1,457

    11,056

     1,256

     2,922

     6,756

     1,462

     1,275

       614

       167

       362

       817

     4,835

Surplus

     6,785

       308

     2,280

       244

       587

     1,412

       307

       266

       129

        58

        73

       122

       999

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,332,743

   197,555

 4,155,640

   191,550

   345,217

   604,293

   546,865

   561,036

   126,147

    82,735

   132,251

   418,415

   971,039

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, August 25, 2021 (continued)

 

1.

Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

 

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between

 

the purchase price and the face value of the securities that have not been amortized.  For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities,

 

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

 

Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility,

 

and other credit extensions.

2.

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

3.

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

4.

Revalued daily at current foreign currency exchange rates.

5.

Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.

6.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8.

Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap.

9.

Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

 

  

 

 

 

Note on consolidation:

 

 

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the FRBB.

 

 

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).

 

 

 


 

H.4.1

 

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

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Aug 25, 2021

Federal Reserve notes outstanding

 2,371,065

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

   231,910

Federal Reserve notes to be collateralized

 2,139,155

Collateral held against Federal Reserve notes

 2,139,155

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,122,918

Other assets pledged

         0

Memo:

 

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

 7,786,785

Less: Face value of securities under reverse repurchase agreements

 1,329,728

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

 6,457,058

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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