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FEDERAL RESERVE statistical release

 

 

For Release at

4:30 P.M. Eastern time

December 30, 2021

 

 

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to reflect closing the Corporate Credit Facilities LLC (CCF LLC).  CCF LLC related lines were removed from table 4 and table 6. Footnote 2 in Information on Principal Amounts of Credit Facilities LLCs (table 4) was revised accordingly.

 

 

 

 

 


 

FEDERAL RESERVE statistical release

 

H.4.1

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

December 30, 2021

 

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

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

Averages of daily figures

Wednesday
Dec 29, 2021

Week ended
Dec 29, 2021

Change from week ended

Dec 22, 2021

Dec 30, 2020

Reserve Bank credit

 8,741,648

-      149

+1,391,238

 8,719,059

Securities held outright1

 8,289,331

-    1,711

+1,531,670

 8,270,111

U.S. Treasury securities

 5,651,960

+    7,998

+  963,054

 5,652,272

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,870,809

+    6,073

+  863,616

 4,870,809

Notes and bonds, inflation-indexed2

   383,200

+      985

+   71,176

   383,200

Inflation compensation3

    71,907

+      940

+   28,263

    72,219

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,635,024

-    9,708

+  568,615

 2,615,492

Unamortized premiums on securities held outright5

   353,769

-      822

+    9,634

   352,893

Unamortized discounts on securities held outright5

   -17,988

+        1

-   12,549

   -17,973

Repurchase agreements6

         0

         0

-    1,000

         0

Foreign official

         0

         0

-    1,000

         0

Others

         0

         0

         0

         0

Loans

    35,996

-    1,792

-   20,981

    34,952

Primary credit

       485

-      218

-    1,300

       640

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-      485

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    3,873

         0

Paycheck Protection Program Liquidity Facility

    35,511

-    1,574

-   15,323

    34,312

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,557

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   46,455

         0

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

    29,399

+        5

-   24,118

    29,406

Net portfolio holdings of Municipal Liquidity Facility LLC7

     7,932

-       26

-   13,343

     7,864

Net portfolio holdings of TALF II LLC7

     2,627

+        1

-   10,036

     2,627

Float

      -139

+        6

+       53

      -540

Central bank liquidity swaps8

     3,349

+    3,093

-   13,634

     3,341

Other Federal Reserve assets9

    37,373

+    1,097

+      557

    36,379

Foreign currency denominated assets10

    20,357

-       28

-    1,881

    20,353

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,928

+       14

+      476

    50,928

 

 

 

 

 

Total factors supplying reserve funds

 8,829,174

-      162

+1,389,833

 8,806,581

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

 

 


 

H.4.1

 

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

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

Averages of daily figures

Wednesday
Dec 29, 2021

Week ended
Dec 29, 2021

Change from week ended

Dec 22, 2021

Dec 30, 2020

Currency in circulation11

 2,233,653

+    8,652

+  152,182

 2,236,532

Reverse repurchase agreements12

 1,876,175

-  129,452

+1,671,158

 1,920,789

Foreign official and international accounts

   280,313

-   14,315

+   75,560

   278,283

Others

 1,595,862

-  115,136

+1,595,598

 1,642,506

Treasury cash holdings

        72

+        2

+       42

        65

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

   531,749

+  190,404

-1,334,507

   539,646

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   211,849

+  126,895

-1,379,206

   283,995

Foreign official

    10,698

+    5,438

-   11,132

     9,672

Other13

   309,202

+   58,072

+   55,830

   245,980

Treasury contributions to credit facilities14

    21,258

         0

-   92,742

    21,258

Other liabilities and capital15

    50,071

-      956

-      341

    48,430

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,712,978

+   68,651

+  395,793

 4,766,721

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,116,196

-   68,813

+  994,040

 4,039,860

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

1.

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

2.

Face value of the securities.

3.

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

4.

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

the securities.

5.

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

6.

Cash value of agreements.

7.

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

8.

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

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

foreign central bank.

9.

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

10.

Revalued daily at current foreign currency exchange rates.

11.

Estimated.

12.

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

13.

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

14.

Book value. Amount of equity investments in MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 billion.

15.

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

 

 

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


 

 


 

H.4.1

 

1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Dec 29, 2021

Week ended
Dec 29, 2021

Change from week ended

Dec 22, 2021

Dec 30, 2020

Securities held in custody for foreign official and international accounts

 3,412,684

-   12,291

-   77,894

 3,410,373

Marketable U.S. Treasury securities1

 3,013,160

-    9,339

-   33,478

 3,011,488

Federal agency debt and mortgage-backed securities2

   318,248

-    3,037

-   39,111

   317,484

Other securities3

    81,277

+       86

-    5,304

    81,401

Securities lent to dealers

    33,097

+      800

+    3,970

    36,072

Overnight facility4

    33,097

+      800

+    3,970

    36,072

U.S. Treasury securities

    33,097

+      800

+    3,970

    36,072

Federal agency debt securities

         0

         0

         0

         0

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

1.

Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2.

Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the securities.

3.

Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4.

Face value. Fully collateralized by U.S. Treasury securities.


 

 

 


 

H.4.1

 

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, December 29, 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

       332

       308

     1,486

    32,826

         0

...

    34,952

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    89,057

   320,220

   714,817

 2,154,028

 1,023,519

 1,350,631

 5,652,272

Weekly changes

+   10,988

-    9,579

-    1,346

+      286

+      288

+    1,813

+    2,449

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

        26

     1,802

    60,323

 2,553,341

 2,615,492

Weekly changes

         0

-        1

-        4

-       94

-    1,141

-   32,930

-   34,169

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,666

...

...

    15,666

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,131

...

...

     4,131

Loans held by TALF II LLC7

         0

         0

         0

     1,346

...

...

     1,346

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

     3,291

        50

         0

         0

         0

         0

     3,341

Reverse repurchase agreements8

 1,920,789

         0

...

...

...

...

 1,920,789

Term deposits

         0

         0

         0

...

...

...

         0

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

 

1.

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

2.

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

3.

Face value.

4.

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

5.

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

6.

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

7.

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

8.

Cash value of agreements.

9.

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

 

 


 

H.4.1

 

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Dec 29, 2021

Mortgage-backed securities held outright1

 2,615,492

Residential mortgage-backed securities

 2,606,255

Commercial mortgage-backed securities

     9,237

 

 

Commitments to buy mortgage-backed securities2

    94,748

Commitments to sell mortgage-backed securities2

        83

 

 

Cash and cash equivalents3

         6

 

1.

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

2.

Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.


 

 


 

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:

Wednesday Dec 29, 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

MS Facilities LLC (Main Street Lending Program)

    15,478

    13,340

    16,066

    29,406

Municipal Liquidity Facility LLC

     4,131

     4,131

     3,733

     7,864

TALF II LLC

     1,431

     1,346

     1,281

     2,627

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

1.

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

2.

Outstanding amount of facility asset purchases:

 

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

 

    updated as of September 30, 2021.

 

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

 

    a one-day lag after the transaction date.

 

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

3.

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

 

 


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Dec 29, 2021

Change since

Wednesday

Wednesday

Dec 22, 2021

Dec 30, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,212

+        8

-      350

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

 

 8,639,983

-   35,560

+1,514,058

Securities held outright1

 

 8,270,111

-   31,720

+1,539,380

U.S. Treasury securities

 

 5,652,272

+    2,449

+  963,356

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,870,809

+    1,601

+  863,616

Notes and bonds, inflation-indexed2

 

   383,200

         0

+   71,176

Inflation compensation3

 

    72,219

+      848

+   28,565

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,615,492

-   34,169

+  576,024

Unamortized premiums on securities held outright5

 

   352,893

-    1,731

+    9,970

Unamortized discounts on securities held outright5

 

   -17,973

+       22

-   12,543

Repurchase agreements6

 

         0

         0

-    1,000

Loans7

 

    34,952

-    2,130

-   21,749

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,557

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   46,532

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

 

    29,406

+        8

-   24,667

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     7,864

-       95

-   13,414

Net portfolio holdings of TALF II LLC8

 

     2,627

         0

-   10,037

Items in process of collection

(0)

        59

-        3

-       23

Bank premises

 

     1,402

+        6

-      820

Central bank liquidity swaps9

 

     3,341

+    3,076

-   14,542

Foreign currency denominated assets10

 

    20,353

-       32

-    2,076

Other assets11

 

    34,976

-      444

+    1,070

 

 

 

 

 

Total assets

(0)

 8,757,460

-   33,035

+1,394,109

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

 

 


 

H.4.1

 

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

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Dec 29, 2021

Change since

Wednesday

Wednesday

Dec 22, 2021

Dec 30, 2020

Liabilities

 

 

 

 

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

 

 2,186,877

+    5,694

+  148,904

Reverse repurchase agreements12

 

 1,920,789

-   62,126

+1,711,026

Deposits

(0)

 4,579,506

+   23,322

-  371,861

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,039,860

-   65,066

+  896,883

U.S. Treasury, General Account

 

   283,995

+   86,479

-1,329,519

Foreign official

 

     9,672

+    4,483

-   12,159

Other13

(0)

   245,980

-    2,573

+   72,935

Deferred availability cash items

(0)

       599

+      339

-      244

Treasury contributions to credit facilities14

 

    21,258

         0

-   92,742

Other liabilities and accrued dividends15

 

     7,769

-      265

-    2,434

 

 

 

 

 

Total liabilities

(0)

 8,716,799

-   33,035

+1,392,649

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,876

         0

+    1,500

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    40,661

         0

+    1,460

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

1.

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

2.

Face value of the securities.

3.

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

4.

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

5.

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

6.

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

7.

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

8.

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

9.

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

10.

Revalued daily at current foreign currency exchange rates.

11.

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

12.

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

13.

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

14.

Book value. Amount of equity investments in MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 billion.

15.

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, December 29, 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

     1,212

        12

        22

       113

        45

       178

       107

       225

        17

        33

        87

       149

       225

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

 8,639,983

   143,830

 4,869,042

   181,939

   319,560

   577,160

   504,323

   469,711

   112,576

    78,836

   114,740

   380,752

   887,515

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    29,406

    29,406

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     7,864

         0

     7,864

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,627

         0

     2,627

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

     3,341

       152

     1,123

       120

       289

       695

       151

       131

        64

        28

        36

        60

       492

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,353

       923

     6,847

       731

     1,759

     4,234

       920

       797

       387

       173

       220

       367

     2,996

Other assets5

    36,437

       705

    19,155

       872

     1,393

     2,738

     2,245

     2,025

       598

       467

       795

     1,721

     3,724

Interdistrict settlement account

         0

+   34,164

-  565,312

+    2,594

+   22,931

+  110,661

+   77,462

+  108,948

+   25,155

+    2,932

+   25,839

+   71,569

+   83,056

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,757,460

   209,722

 4,346,789

   186,891

   346,729

   696,853

   587,396

   582,973

   139,272

    82,741

   142,173

   455,837

   980,083

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, December 29, 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

 2,186,877

    73,001

   698,633

    62,187

   103,904

   155,038

   327,429

   121,912

    65,002

    33,156

    56,013

   193,264

   297,339

Reverse repurchase agreements6

 1,920,789

    32,098

 1,085,738

    40,569

    69,890

   128,708

   112,543

   104,818

    25,042

    14,862

    25,507

    84,940

   196,074

Deposits

 4,579,506

    88,705

 2,538,067

    82,352

   168,681

   403,948

   144,882

   354,126

    48,206

    34,297

    59,984

   176,282

   479,977

Depository institutions

 4,039,860

    88,688

 2,192,315

    82,351

   168,635

   403,224

   144,747

   162,787

    48,194

    33,931

    59,066

   176,017

   479,906

U.S. Treasury, General Account

   283,995

         0

   283,995

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,672

         2

     9,646

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   245,980

        16

    52,112

         0

        42

       716

       132

   191,337

        11

       366

       917

       265

        66

Earnings remittances due to the U.S. Treasury8

     1,931

        15

     1,230

        32

        53

        80

        91

        98

        17

        12

        19

        78

       207

Treasury contributions to credit facilities9

    21,258

    15,674

     5,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     6,437

    -1,538

     3,460

       252

       304

       874

     1,042

       470

       194

       185

       228

       337

       630

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,716,799

   207,956

 4,332,711

   185,391

   342,831

   688,648

   585,987

   581,423

   138,461

    82,513

   141,750

   454,901

   974,227

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,876

     1,459

    11,797

     1,257

     3,311

     6,793

     1,102

     1,283

       682

       170

       350

       814

     4,857

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

 8,757,460

   209,722

 4,346,789

   186,891

   346,729

   696,853

   587,396

   582,973

   139,272

    82,741

   142,173

   455,837

   980,083

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, December 29, 2021 (continued)

 

1.

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

 

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

 

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

 

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

 

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other credit extensions.

2.

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

3.

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

4.

Revalued daily at current foreign currency exchange rates.

5.

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

6.

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

7.

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

8.

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

9.

Book value. Amount of equity investments in MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 billion.

 

  

 

 

 

Note on consolidation:

 

 

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

 

 

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

 

 

 


 

H.4.1

 

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

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Dec 29, 2021

Federal Reserve notes outstanding

 2,437,093

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

   250,216

Federal Reserve notes to be collateralized

 2,186,877

Collateral held against Federal Reserve notes

 2,186,877

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,170,640

Other assets pledged

         0

Memo:

 

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

 8,270,111

Less: Face value of securities under reverse repurchase agreements

 1,863,367

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

 6,406,744

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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