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Release Date: Thursday, March 31, 2022
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FEDERAL RESERVE statistical release

 

H.4.1

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

March 31, 2022

 

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

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

Averages of daily figures

Wednesday
Mar 30, 2022

Week ended
Mar 30, 2022

Change from week ended

Mar 23, 2022

Mar 31, 2021

Reserve Bank credit

 8,902,877

-   21,321

+1,260,843

 8,898,734

Securities held outright1

 8,480,677

-   18,121

+1,359,224

 8,477,627

U.S. Treasury securities

 5,759,706

+      881

+  825,190

 5,760,030

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,966,485

         0

+  735,625

 4,966,485

Notes and bonds, inflation-indexed2

   388,233

         0

+   56,505

   388,233

Inflation compensation3

    78,944

+      882

+   33,060

    79,267

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,718,624

-   19,002

+  534,034

 2,715,250

Unamortized premiums on securities held outright5

   344,876

-    1,485

-    5,893

   344,536

Unamortized discounts on securities held outright5

   -21,402

-       28

-   12,269

   -21,381

Repurchase agreements6

         0

         0

-        1

         1

Foreign official

         0

         0

-        1

         0

Others

         0

         0

         0

         1

Loans

    24,514

-      762

-   35,304

    24,032

Primary credit

       628

-      282

-      313

       354

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-       25

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-      303

         0

Paycheck Protection Program Liquidity Facility

    23,886

-      480

-   34,663

    23,678

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,556

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   26,025

         0

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

    28,859

+       10

-    2,087

    28,866

Net portfolio holdings of Municipal Liquidity Facility LLC7

     6,652

+        1

-    4,902

     6,653

Net portfolio holdings of TALF II LLC7

     2,527

+        1

-    3,069

     2,527

Float

      -300

-      176

+       42

    -1,136

Central bank liquidity swaps8

       231

-       78

-    2,279

       231

Other Federal Reserve assets9

    36,243

-      683

+    1,962

    36,779

Foreign currency denominated assets10

    19,519

-      191

-    1,719

    19,680

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,995

+       14

+      465

    50,995

 

 

 

 

 

Total factors supplying reserve funds

 8,989,632

-   21,499

+1,259,589

 8,985,650

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

 

 


 

H.4.1

 

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

Millions of dollars

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

Averages of daily figures

Wednesday
Mar 30, 2022

Week ended
Mar 30, 2022

Change from week ended

Mar 23, 2022

Mar 31, 2021

Currency in circulation11

 2,266,398

+    2,108

+  127,798

 2,268,291

Reverse repurchase agreements12

 1,956,391

-   21,224

+1,703,369

 2,040,783

Foreign official and international accounts

   251,817

+    2,871

+   45,057

   254,844

Others

 1,704,574

-   24,095

+1,658,312

 1,785,939

Treasury cash holdings

        72

+        2

-       19

        74

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

   868,503

-   29,489

-  495,091

   835,300

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   575,065

-   39,551

-  450,662

   556,791

Foreign official

     8,332

+      943

-   24,134

     8,124

Other13

   285,106

+    9,119

-   20,295

   270,384

Treasury contributions to credit facilities14

    21,258

         0

-   30,520

    21,258

Other liabilities and capital15

    47,329

-    1,482

+      535

    46,478

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,159,952

-   50,085

+1,306,071

 5,212,184

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,829,680

+   28,585

-   46,482

 3,773,466

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.

7.

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

8.

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

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

foreign central bank.

9.

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

10.

Revalued daily at current foreign currency exchange rates.

11.

Estimated.

12.

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

13.

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

14.

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

15.

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

 

 

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


 

 


 

H.4.1

 

1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Mar 30, 2022

Week ended
Mar 30, 2022

Change from week ended

Mar 23, 2022

Mar 31, 2021

Securities held in custody for foreign official and international accounts

 3,464,169

+   13,870

-   87,353

 3,460,942

Marketable U.S. Treasury securities1

 3,047,170

+   17,971

-   71,004

 3,051,664

Federal agency debt and mortgage-backed securities2

   335,412

-    4,061

-   10,885

   327,157

Other securities3

    81,588

-       40

-    5,463

    82,121

Securities lent to dealers

    39,952

+      274

+      947

    43,408

Overnight facility4

    39,952

+      274

+      947

    43,408

U.S. Treasury securities

    39,952

+      274

+      947

    43,408

Federal agency debt securities

         0

         0

         0

         0

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

1.

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

2.

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

3.

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

4.

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


 

 

 


 

H.4.1

 

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 30, 2022

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans1

       120

       835

         0

    23,077

         0

...

    24,032

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    89,526

   316,195

   761,650

 2,197,763

   994,559

 1,400,337

 5,760,030

Weekly changes

+    8,492

-    9,804

+    1,361

+   14,104

-   13,495

+      223

+      881

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

        37

     2,022

    64,380

 2,648,810

 2,715,250

Weekly changes

         0

-        1

-        6

-       94

-    1,038

-   22,372

-   23,510

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    14,715

...

...

    14,715

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

         0

     1,264

...

...

     1,264

Repurchase agreements8

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       231

         0

         0

         0

         0

         0

       231

Reverse repurchase agreements8

 2,040,783

         0

...

...

...

...

 2,040,783

Term deposits

         0

         0

         0

...

...

...

         0

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

 

1.

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

2.

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

3.

Face value.

4.

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

5.

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

6.

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

7.

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

8.

Cash value of agreements.

9.

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

 

 


 

H.4.1

 

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Mar 30, 2022

Mortgage-backed securities held outright1

 2,715,250

Residential mortgage-backed securities

 2,706,233

Commercial mortgage-backed securities

     9,017

 

 

Commitments to buy mortgage-backed securities2

    49,241

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         2

 

1.

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

2.

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

3.

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


 

 


 

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:

Wednesday Mar 30, 2022

 

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

MS Facilities LLC (Main Street Lending Program)

    14,563

    12,692

    16,174

    28,866

Municipal Liquidity Facility LLC

     2,907

     2,907

     3,746

     6,653

TALF II LLC

     1,327

     1,264

     1,263

     2,527

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

1.

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

2.

Outstanding amount of facility asset purchases:

 

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

 

    updated as of December 31, 2021.

 

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

 

    a one-day lag after the transaction date.

 

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

3.

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

 

 


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Mar 30, 2022

Change since

Wednesday

Wednesday

Mar 23, 2022

Mar 31, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,295

+        2

-      189

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

 

 8,824,815

-   24,665

+1,292,814

Securities held outright1

 

 8,477,627

-   22,628

+1,348,319

U.S. Treasury securities

 

 5,760,030

+      881

+  817,753

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,966,485

         0

+  731,092

Notes and bonds, inflation-indexed2

 

   388,233

         0

+   53,476

Inflation compensation3

 

    79,267

+      881

+   33,184

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,715,250

-   23,510

+  530,567

Unamortized premiums on securities held outright5

 

   344,536

-    1,360

-    6,438

Unamortized discounts on securities held outright5

 

   -21,381

+       29

-   11,912

Repurchase agreements6

 

         1

+        1

+        1

Loans7

 

    24,032

-      706

-   37,156

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,556

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   26,034

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

 

    28,866

+        9

-    2,087

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     6,653

+        1

-    4,903

Net portfolio holdings of TALF II LLC8

 

     2,527

         0

-    2,755

Items in process of collection

(0)

        61

+        7

+        4

Bank premises

 

     1,131

-      162

-      792

Central bank liquidity swaps9

 

       231

-       78

-    2,279

Foreign currency denominated assets10

 

    19,680

+      112

-    1,471

Other assets11

 

    35,648

-      557

+    4,402

 

 

 

 

 

Total assets

(0)

 8,937,142

-   25,332

+1,248,154

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

 

 


 

H.4.1

 

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

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Mar 30, 2022

Change since

Wednesday

Wednesday

Mar 23, 2022

Mar 31, 2021

Liabilities

 

 

 

 

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

 

 2,218,660

+    2,526

+  123,555

Reverse repurchase agreements12

 

 2,040,783

-   13,799

+1,688,606

Deposits

(0)

 4,608,766

-   14,966

-  534,218

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,773,466

+    4,420

+  100,764

U.S. Treasury, General Account

 

   556,791

-   19,651

-  565,160

Foreign official

 

     8,124

+      551

-   25,085

Other13

(0)

   270,384

-      287

-   44,738

Deferred availability cash items

(0)

     1,197

+      988

+       90

Treasury contributions to credit facilities14

 

    21,258

         0

-   30,520

Other liabilities and accrued dividends15

 

     5,369

-       82

-    1,214

 

 

 

 

 

Total liabilities

(0)

 8,896,034

-   25,331

+1,246,300

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,324

         0

+    1,855

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,109

         0

+    1,855

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

1.

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

2.

Face value of the securities.

3.

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

4.

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

5.

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

6.

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

7.

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

8.

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

9.

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

10.

Revalued daily at current foreign currency exchange rates.

11.

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

12.

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

13.

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

14.

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

15.

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, March 30, 2022

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold certificates and special drawing rights certificates

    16,237

       531

     5,422

       523

       752

     1,187

     2,188

     1,136

       475

       273

       455

     1,220

     2,075

Coin

     1,295

        19

        24

       116

        51

       189

       101

       237

        23

        42

        94

       164

       233

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

 8,824,815

   147,080

 4,978,335

   185,901

   324,602

   589,997

   515,665

   480,290

   114,906

    76,965

   117,172

   389,286

   904,616

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    28,866

    28,866

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     6,653

         0

     6,653

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,527

         0

     2,527

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       231

        10

        77

         8

        20

        48

        10

         9

         4

         2

         2

         4

        34

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    19,680

       893

     6,615

       707

     1,702

     4,095

       890

       771

       374

       167

       213

       355

     2,898

Other assets5

    36,840

       709

    19,554

       876

     1,399

     2,758

     2,238

     2,017

       595

       475

       794

     1,719

     3,707

Interdistrict settlement account

         0

+   27,832

-  299,379

-    7,403

-   15,837

+    9,070

+   54,933

+  117,547

+   26,161

+    1,110

+   19,377

+   74,498

-    7,907

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,937,142

   205,941

 4,719,828

   180,728

   312,689

   607,345

   576,025

   602,007

   142,539

    79,035

   138,107

   467,245

   905,656

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, March 30, 2022 (continued)

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal Reserve notes, net

 2,218,660

    73,231

   705,123

    58,921

   104,543

   154,024

   333,866

   130,470

    65,047

    34,401

    58,043

   191,744

   309,249

Reverse repurchase agreements6

 2,040,783

    34,103

 1,153,565

    43,103

    74,256

   136,749

   119,574

   111,366

    26,606

    15,791

    27,100

    90,247

   208,323

Deposits

 4,608,766

    82,183

 2,839,006

    76,963

   129,656

   307,299

   119,581

   358,172

    49,827

    28,421

    52,309

   183,884

   381,466

Depository institutions

 3,773,466

    82,170

 2,220,110

    76,961

   129,544

   306,568

   119,548

   143,226

    49,817

    28,224

    52,280

   183,621

   381,397

U.S. Treasury, General Account

   556,791

         0

   556,791

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,124

         2

     8,098

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   270,384

        12

    54,007

         0

       109

       722

        32

   214,944

         9

       196

        29

       262

        63

Earnings remittances due to the U.S. Treasury8

     2,439

        29

     1,382

        52

        90

       177

       152

       120

        25

        16

        36

       105

       255

Treasury contributions to credit facilities9

    21,258

    15,674

     5,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     4,127

    -1,194

     1,126

       192

       220

       660

     1,521

       372

       169

       157

       195

       252

       455

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,896,034

   204,027

 4,705,785

   179,232

   308,765

   598,908

   574,694

   600,499

   141,675

    78,786

   137,683

   466,232

   899,749

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,324

     1,621

    11,680

     1,244

     3,261

     7,077

     1,110

     1,250

       728

       215

       354

       850

     4,934

Surplus

     6,785

       292

     2,363

       252

       663

     1,361

       221

       257

       137

        34

        70

       163

       973

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,937,142

   205,941

 4,719,828

   180,728

   312,689

   607,345

   576,025

   602,007

   142,539

    79,035

   138,107

   467,245

   905,656

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

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, March 30, 2022 (continued)

 

1.

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

 

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

 

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

 

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

 

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

2.

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

3.

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

4.

Revalued daily at current foreign currency exchange rates.

5.

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

6.

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

7.

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

8.

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

9.

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

 

  

 

 

 

Note on consolidation:

 

 

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

 

 

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

 

 

 


 

H.4.1

 

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

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Mar 30, 2022

Federal Reserve notes outstanding

 2,492,762

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

   274,102

Federal Reserve notes to be collateralized

 2,218,660

Collateral held against Federal Reserve notes

 2,218,660

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,202,424

Other assets pledged

         0

Memo:

 

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

 8,477,628

Less: Face value of securities under reverse repurchase agreements

 2,099,221

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

 6,378,407

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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