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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

January 12, 2023

 

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
Jan 11, 2023

Week ended
Jan 11, 2023

Change from week ended

Jan 4, 2023

Jan 12, 2022

Reserve Bank credit

 8,471,425

-   30,534

-  265,633

 8,472,288

Securities held outright1

 8,100,429

-   30,771

-  189,634

 8,100,175

U.S. Treasury securities

 5,456,680

-   30,771

-  215,475

 5,456,426

Bills2

   288,359

-    1,112

-   37,685

   288,199

Notes and bonds, nominal2

 4,688,142

-   29,561

-  196,404

 4,688,088

Notes and bonds, inflation-indexed2

   377,416

         0

-   10,367

   377,416

Inflation compensation3

   102,763

-       98

+   28,981

   102,723

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,641,402

         0

+   25,840

 2,641,402

Unamortized premiums on securities held outright5

   313,151

-      697

-   39,639

   312,938

Unamortized discounts on securities held outright5

   -27,538

+       45

-    9,445

   -27,461

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    15,195

-    1,193

-   17,947

    15,207

Primary credit

     3,812

-    1,120

+    3,419

     3,860

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

-       10

         0

         0

Paycheck Protection Program Liquidity Facility

    11,383

-       63

-   21,365

    11,347

Other credit extensions

         0

         0

         0

         0

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

    22,641

+       16

-    6,775

    22,659

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,572

+        2

-    2,293

     5,574

Net portfolio holdings of TALF II LLC7

     1,957

-        3

-      644

     1,958

Float

      -157

+      333

-       28

      -163

Central bank liquidity swaps8

       191

-      221

-      173

       191

Other Federal Reserve assets9

    39,983

+    1,955

+      943

    41,209

Foreign currency denominated assets10

    18,547

-       97

-    1,788

    18,623

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,485

+       14

+      728

    51,485

 

 

 

 

 

Total factors supplying reserve funds

 8,557,698

-   30,617

-  266,694

 8,558,638

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
Jan 11, 2023

Week ended
Jan 11, 2023

Change from week ended

Jan 4, 2023

Jan 12, 2022

Currency in circulation11

 2,302,550

-    6,149

+   68,134

 2,299,041

Reverse repurchase agreements12

 2,544,906

-  211,165

+  702,826

 2,547,806

Foreign official and international accounts

   337,062

+    1,134

+   27,163

   348,636

Others

 2,207,845

-  212,297

+  675,665

 2,199,170

Treasury cash holdings

       102

+        3

+       37

       107

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

   585,048

-   64,784

-  119,483

   550,878

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   372,340

-   51,285

-   84,061

   346,426

Foreign official

     8,935

         0

+    2,757

     8,935

Other13

   203,773

-   13,499

-   38,179

   195,517

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

    15,347

Other liabilities and capital15

    28,508

+      385

-   19,979

    28,628

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,476,461

-  281,710

+  625,624

 5,441,807

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,081,237

+  251,093

-  892,317

 3,116,831

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
Jan 11, 2023

Week ended
Jan 11, 2023

Change from week ended

Jan 4, 2023

Jan 12, 2022

Securities held in custody for foreign official and international accounts

 3,331,543

+    6,915

-  102,037

 3,331,341

Marketable U.S. Treasury securities1

 2,922,674

+    6,847

-  111,925

 2,922,395

Federal agency debt and mortgage-backed securities2

   327,749

+       44

+   10,311

   327,786

Other securities3

    81,120

+       24

-      423

    81,160

Securities lent to dealers

    42,978

-    4,927

+    4,103

    41,058

Overnight facility4

    42,978

-    4,927

+    4,103

    41,058

U.S. Treasury securities

    42,957

-    4,927

+    4,082

    41,037

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, January 11, 2023

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

     2,388

     1,479

         0

    11,340

         0

...

    15,207

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    64,646

   353,364

   721,247

 1,915,402

   937,178

 1,464,589

 5,456,426

Weekly changes

+    2,194

-    3,588

+      175

-       43

-       34

-       28

-    1,325

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

         3

        37

     5,721

    50,560

 2,585,080

 2,641,402

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    11,693

...

...

    11,693

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

       191

         0

         0

         0

         0

         0

       191

Reverse repurchase agreements8

 2,547,806

         0

...

...

...

...

 2,547,806

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

Jan 11, 2023

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 Jan 11, 2023

 

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

    10,345

    12,315

    22,659

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,666

     5,574

TALF II LLC

     1,011

       996

       962

     1,958

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
Jan 11, 2023

Change since

Wednesday

Wednesday

Jan 4, 2023

Jan 12, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,216

+       26

-       12

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

 

 8,400,860

-    2,060

-  268,891

Securities held outright1

 

 8,100,175

-    1,325

-  202,476

U.S. Treasury securities

 

 5,456,426

-    1,325

-  228,311

Bills2

 

   288,199

-    1,139

-   37,845

Notes and bonds, nominal2

 

 4,688,088

-       75

-  208,718

Notes and bonds, inflation-indexed2

 

   377,416

         0

-   10,495

Inflation compensation3

 

   102,723

-      110

+   28,747

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,641,402

         0

+   25,835

Unamortized premiums on securities held outright5

 

   312,938

-      605

-   39,732

Unamortized discounts on securities held outright5

 

   -27,461

+       18

-    9,201

Repurchase agreements6

 

         0

-        1

-        1

Loans7

 

    15,207

-      149

-   17,481

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

 

    22,659

+       21

-    6,764

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,574

+        3

-    2,292

Net portfolio holdings of TALF II LLC8

 

     1,958

+        1

-      643

Items in process of collection

(0)

        61

-       51

-       10

Bank premises

 

       468

+        7

-      940

Central bank liquidity swaps9

 

       191

-      221

-      173

Foreign currency denominated assets10

 

    18,623

+      100

-    1,839

Other assets11

 

    40,742

+    3,336

+    1,873

 

 

 

 

 

Total assets

(0)

 8,508,587

+    1,158

-  279,691

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
Jan 11, 2023

Change since

Wednesday

Wednesday

Jan 4, 2023

Jan 12, 2022

Liabilities

 

 

 

 

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

 

 2,248,874

-    8,758

+   65,574

Reverse repurchase agreements12

 

 2,547,806

-   14,077

+  685,761

Deposits

(0)

 3,667,709

+   23,211

-1,005,373

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,116,831

+   74,902

-  812,102

U.S. Treasury, General Account

 

   346,426

-   33,194

-  143,253

Foreign official

 

     8,935

         0

+    3,745

Other13

(0)

   195,517

-   18,497

-   53,763

Deferred availability cash items

(0)

       224

-       91

+       43

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -13,198

+      872

-   21,112

 

 

 

 

 

Total liabilities

(0)

 8,466,761

+    1,155

-  281,020

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,041

+        3

+    1,329

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,826

+        3

+    1,329

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, January 11, 2023

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

     1,216

        16

        28

       109

        46

       188

        79

       224

        24

        36

        90

       158

       218

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

 8,400,860

   167,967

 4,302,530

   192,687

   337,389

   584,594

   549,121

   573,737

   131,733

    63,460

   131,067

   430,196

   936,378

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,659

    22,659

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,574

         0

     5,574

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,958

         0

     1,958

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       191

         8

        66

         7

        19

        38

         6

         7

         4

         1

         2

         5

        27

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,623

       802

     6,487

       691

     1,820

     3,734

       606

       706

       375

        94

       192

       447

     2,670

Other assets5

    41,270

       939

    19,861

     1,035

     1,698

     3,225

     2,754

     2,794

       782

       498

       936

     2,197

     4,553

Interdistrict settlement account

         0

-    1,997

+  242,153

-   48,913

-   36,282

+   24,693

+   17,439

-   37,671

-    9,964

-    1,957

-   22,955

-   25,454

-   99,092

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,508,587

   190,939

 4,583,929

   146,152

   305,452

   617,675

   572,251

   540,889

   123,414

    62,394

   109,772

   408,829

   846,890

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, January 11, 2023 (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

 2,248,874

    77,762

   707,335

    54,771

   111,431

   169,043

   352,101

   121,866

    69,092

    32,493

    49,432

   191,021

   312,526

Reverse repurchase agreements6

 2,547,806

    51,007

 1,306,264

    58,532

   101,741

   177,548

   166,694

   174,167

    40,014

    18,065

    39,771

   130,625

   283,377

Deposits

 3,667,709

    49,250

 2,563,053

    31,226

    88,328

   263,568

    51,611

   244,439

    13,216

    11,478

    19,982

    86,174

   245,384

Depository institutions

 3,116,831

    49,243

 2,155,667

    31,225

    88,304

   262,994

    51,582

   102,022

    13,207

    11,365

    19,955

    85,922

   245,347

U.S. Treasury, General Account

   346,426

         0

   346,426

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,935

         2

     8,909

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   195,517

         6

    52,051

         0

        21

       565

        28

   142,416

         8

       113

        27

       251

        32

Earnings remittances due to the U.S. Treasury8

   -22,566

      -453

   -16,259

      -112

      -339

    -2,029

       -31

    -1,820

       -24

       -56

       -58

      -249

    -1,137

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

     9,591

       120

     4,819

       226

       325

     1,079

       598

       760

       189

       159

       203

       356

       756

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,466,761

   189,140

 4,569,107

   144,643

   301,487

   609,209

   570,973

   539,413

   122,488

    62,139

   109,330

   407,928

   840,906

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,041

     1,507

    12,460

     1,258

     3,302

     7,105

     1,057

     1,219

       789

       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

 8,508,587

   190,939

 4,583,929

   146,152

   305,452

   617,675

   572,251

   540,889

   123,414

    62,394

   109,772

   408,829

   846,890

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, January 11, 2023 (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

Jan 11, 2023

Federal Reserve notes outstanding

 2,621,678

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

   372,804

Federal Reserve notes to be collateralized

 2,248,874

Collateral held against Federal Reserve notes

 2,248,874

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,232,637

Other assets pledged

         0

Memo:

 

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

 8,100,175

Less: Face value of securities under reverse repurchase agreements

 2,708,530

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

 5,391,645

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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