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Release Date: Thursday, December 29, 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

December 29, 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
Dec 28, 2022

Week ended
Dec 28, 2022

Change from week ended

Dec 21, 2022

Dec 29, 2021

Reserve Bank credit

 8,525,696

-    4,860

-  215,952

 8,514,705

Securities held outright1

 8,153,117

-    6,310

-  136,214

 8,144,582

U.S. Treasury securities

 5,500,925

-      115

-  151,035

 5,500,834

Bills2

   291,417

-      633

-   34,627

   291,192

Notes and bonds, nominal2

 4,729,518

+       53

-  141,291

 4,729,518

Notes and bonds, inflation-indexed2

   377,416

         0

-    5,784

   377,416

Inflation compensation3

   102,573

+      465

+   30,666

   102,707

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,649,845

-    6,196

+   14,821

 2,641,402

Unamortized premiums on securities held outright5

   314,576

-      835

-   39,193

   314,178

Unamortized discounts on securities held outright5

   -27,355

+      179

-    9,367

   -27,288

Repurchase agreements6

         0

-        2

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-        2

         0

         0

Loans

    16,142

+      312

-   19,854

    16,129

Primary credit

     4,566

+      419

+    4,081

     4,638

Secondary credit

         0

         0

         0

         0

Seasonal credit

         9

+        6

+        9

        19

Paycheck Protection Program Liquidity Facility

    11,567

-      114

-   23,944

    11,472

Other credit extensions

         0

         0

         0

         0

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

    22,599

+       15

-    6,800

    22,617

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,567

+        3

-    2,365

     5,569

Net portfolio holdings of TALF II LLC7

     1,983

+        2

-      644

     1,984

Float

      -200

-       50

-       61

      -527

Central bank liquidity swaps8

       412

+      202

-    2,937

       412

Other Federal Reserve assets9

    38,856

+    1,627

+    1,483

    37,049

Foreign currency denominated assets10

    18,466

+      128

-    1,891

    18,402

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,457

+       14

+      717

    51,457

 

 

 

 

 

Total factors supplying reserve funds

 8,611,861

-    4,718

-  217,125

 8,600,805

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 28, 2022

Week ended
Dec 28, 2022

Change from week ended

Dec 21, 2022

Dec 29, 2021

Currency in circulation11

 2,303,411

+    7,794

+   69,947

 2,307,340

Reverse repurchase agreements12

 2,575,944

+   76,568

+  699,769

 2,627,152

Foreign official and international accounts

   347,008

-    8,832

+   66,695

   334,149

Others

 2,228,936

+   85,400

+  633,074

 2,293,003

Treasury cash holdings

       103

+        8

+       31

        99

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

   664,931

-   19,912

+  133,182

   637,310

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   427,926

-   31,854

+  216,077

   409,809

Foreign official

     8,469

+       30

-    2,229

     8,434

Other13

   228,536

+   11,911

-   80,666

   219,068

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

    15,347

Other liabilities and capital15

    34,235

+    1,555

-   15,836

    33,819

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,593,972

+   66,014

+  881,182

 5,621,067

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,017,889

-   70,732

-1,098,307

 2,979,738

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 28, 2022

Week ended
Dec 28, 2022

Change from week ended

Dec 21, 2022

Dec 29, 2021

Securities held in custody for foreign official and international accounts

 3,318,182

+    9,425

-   94,502

 3,320,038

Marketable U.S. Treasury securities1

 2,908,870

+   10,680

-  104,290

 2,910,992

Federal agency debt and mortgage-backed securities2

   327,925

-    1,253

+    9,677

   327,705

Other securities3

    81,387

-        1

+      110

    81,341

Securities lent to dealers

    47,266

+    5,798

+   14,169

    46,895

Overnight facility4

    47,266

+    5,798

+   14,169

    46,895

U.S. Treasury securities

    47,245

+    5,798

+   14,148

    46,874

Federal agency debt securities

        21

         0

+       21

        21

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 28, 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

     3,073

     1,591

         0

    11,465

         0

...

    16,129

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    91,924

   326,728

   733,494

 1,934,693

   949,410

 1,464,585

 5,500,834

Weekly changes

+    7,572

-    6,873

-    1,314

+      170

+      135

+      114

-      196

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,347

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         2

        36

     4,020

    49,979

 2,587,366

 2,641,402

Weekly changes

         0

-        1

-        7

-       98

-      665

-   11,049

-   11,820

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    11,893

...

...

    11,893

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

       996

         0

...

...

       996

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       412

         0

         0

         0

         0

         0

       412

Reverse repurchase agreements8

 2,627,152

         0

...

...

...

...

 2,627,152

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 (PPPLF) and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. 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 28, 2022

Mortgage-backed securities held outright1

 2,641,402

Residential mortgage-backed securities

 2,632,908

Commercial mortgage-backed securities

     8,494

 

 

Commitments to buy mortgage-backed securities2

         0

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         0

 

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 28, 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)

    11,353

    10,545

    12,072

    22,617

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,662

     5,569

TALF II LLC

     1,040

       996

       988

     1,984

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, 2022.

 

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 28, 2022

Change since

Wednesday

Wednesday

Dec 21, 2022

Dec 29, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,195

+        6

-       17

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

 

 8,447,601

-   12,828

-  192,382

Securities held outright1

 

 8,144,582

-   12,018

-  125,529

U.S. Treasury securities

 

 5,500,834

-      196

-  151,438

Bills2

 

   291,192

-      635

-   34,852

Notes and bonds, nominal2

 

 4,729,518

         0

-  141,291

Notes and bonds, inflation-indexed2

 

   377,416

         0

-    5,784

Inflation compensation3

 

   102,707

+      438

+   30,488

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,641,402

-   11,820

+   25,910

Unamortized premiums on securities held outright5

 

   314,178

-      909

-   38,715

Unamortized discounts on securities held outright5

 

   -27,288

+      178

-    9,315

Repurchase agreements6

 

         0

         0

         0

Loans7

 

    16,129

-       80

-   18,823

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

 

    22,617

+       21

-    6,789

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,569

+        3

-    2,295

Net portfolio holdings of TALF II LLC8

 

     1,984

+        1

-      643

Items in process of collection

(0)

       100

+        7

+       41

Bank premises

 

       473

-       17

-      929

Central bank liquidity swaps9

 

       412

+      202

-    2,929

Foreign currency denominated assets10

 

    18,402

-       73

-    1,951

Other assets11

 

    36,579

-      563

+    1,603

 

 

 

 

 

Total assets

(0)

 8,551,169

-   13,242

-  206,291

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 28, 2022

Change since

Wednesday

Wednesday

Dec 21, 2022

Dec 29, 2021

Liabilities

 

 

 

 

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

 

 2,257,171

+    8,026

+   70,294

Reverse repurchase agreements12

 

 2,627,152

+   64,790

+  706,363

Deposits

(0)

 3,617,052

-   87,341

-  962,454

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 2,979,742

-   69,590

-1,060,118

U.S. Treasury, General Account

 

   409,809

-   25,113

+  125,814

Foreign official

 

     8,434

         0

-    1,238

Other13

(0)

   219,068

+    7,362

-   26,912

Deferred availability cash items

(0)

       627

+      372

+       28

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

    -7,980

+      911

-   15,749

 

 

 

 

 

Total liabilities

(0)

 8,509,370

-   13,242

-  207,429

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,014

         0

+    1,138

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,799

         0

+    1,138

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 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 28, 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

       544

     5,271

       537

       763

     1,203

     2,247

     1,093

       461

       263

       440

     1,279

     2,136

Coin

     1,195

        15

        24

       109

        45

       188

        72

       223

        24

        34

        89

       154

       219

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

 8,447,601

   168,977

 4,326,180

   193,767

   339,222

   587,721

   552,167

   576,850

   132,450

    63,847

   132,159

   432,483

   941,778

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,617

    22,617

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,569

         0

     5,569

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,984

         0

     1,984

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       412

        18

       144

        15

        40

        83

        13

        16

         8

         2

         4

        10

        59

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,402

       792

     6,410

       683

     1,798

     3,690

       599

       698

       370

        93

       190

       442

     2,638

Other assets5

    37,152

       855

    17,778

       940

     1,534

     2,907

     2,527

     2,517

       692

       447

       874

     1,986

     4,097

Interdistrict settlement account

         0

+    4,330

+  190,926

-   47,733

-   40,502

+   24,699

+   26,127

-    8,110

-    9,777

-    2,345

-   21,404

-   19,806

-   96,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,551,169

   198,148

 4,554,286

   148,318

   302,901

   620,489

   583,752

   573,286

   124,229

    62,341

   112,353

   416,547

   854,520

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 28, 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

 2,257,171

    77,800

   708,768

    55,165

   112,384

   167,120

   354,326

   122,751

    69,377

    32,811

    49,942

   192,053

   314,675

Reverse repurchase agreements6

 2,627,152

    52,595

 1,346,945

    60,354

   104,910

   183,077

   171,885

   179,591

    41,260

    18,628

    41,010

   134,693

   292,202

Deposits

 3,617,052

    54,751

 2,488,055

    31,112

    81,482

   262,260

    55,247

   270,117

    12,477

    10,524

    20,768

    88,664

   241,596

Depository institutions

 2,979,742

    54,740

 2,014,694

    31,110

    81,450

   261,888

    55,218

   106,930

    12,468

    10,385

    20,726

    88,567

   241,565

U.S. Treasury, General Account

   409,809

         0

   409,809

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,434

         2

     8,408

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   219,068

         9

    55,144

         0

        28

       364

        27

   163,186

         8

       139

        41

        96

        25

Earnings remittances due to the U.S. Treasury8

   -18,002

      -337

   -13,352

       -67

      -200

    -1,624

        11

    -1,448

        -1

       -47

       -25

      -137

      -775

Treasury contributions to credit facilities9

    15,347

    11,453

     3,894

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    10,649

        86

     5,157

       244

       359

     1,205

     1,012

       799

       192

       170

       215

       373

       838

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,509,370

   196,349

 4,539,467

   146,808

   298,936

   612,038

   582,481

   571,810

   123,304

    62,085

   111,911

   415,646

   848,536

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,014

     1,507

    12,457

     1,258

     3,302

     7,090

     1,050

     1,219

       788

       221

       372

       738

     5,011

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

 8,551,169

   198,148

 4,554,286

   148,318

   302,901

   620,489

   583,752

   573,286

   124,229

    62,341

   112,353

   416,547

   854,520

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 28, 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.

The Federal Reserve Banks remit residual net earnings 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. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume.

9.

Book value. Amount of equity investments in MS Facilities LLC of $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 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 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 28, 2022

Federal Reserve notes outstanding

 2,619,315

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

   362,144

Federal Reserve notes to be collateralized

 2,257,171

Collateral held against Federal Reserve notes

 2,257,171

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,240,934

Other assets pledged

         0

Memo:

 

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

 8,144,582

Less: Face value of securities under reverse repurchase agreements

 2,848,062

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

 5,296,521

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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