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Release Date: October 15, 2020
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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 October 15, 2020
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Oct 14, 2020
Federal Reserve Banks Oct 14, 2020 Oct 7, 2020 Oct 16, 2019
Reserve Bank credit 7,045,371 + 25,643 +3,135,700 7,111,490
Securities held outright (1) 6,471,074 + 29,970 +2,878,074 6,534,164
U.S. Treasury securities 4,476,758 + 20,788 +2,355,045 4,484,978
Bills (2) 326,044 0 + 320,042 326,044
Notes and bonds, nominal (2) 3,819,084 + 18,286 +1,848,890 3,826,856
Notes and bonds, inflation-indexed (2) 290,816 + 2,056 + 169,823 291,159
Inflation compensation (3) 40,814 + 446 + 16,291 40,919
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 1,991,969 + 9,182 + 523,029 2,046,839
Unamortized premiums on securities held outright (5) 334,977 + 1,024 + 207,132 337,568
Unamortized discounts on securities held outright (5) -4,635 + 78 + 7,903 -4,597
Repurchase agreements (6) 1,000 - 8 - 173,364 1,000
Foreign official 1,000 0 + 1,000 1,000
Others 0 - 8 - 174,364 0
Loans 74,758 - 1,480 + 74,693 74,670
Primary credit 2,619 - 270 + 2,617 2,769
Secondary credit 0 0 0 0
Seasonal credit 26 - 7 - 37 12
Primary Dealer Credit Facility 193 - 40 + 193 193
Money Market Mutual Fund Liquidity Facility 6,137 - 370 + 6,137 6,119
Paycheck Protection Program Liquidity Facility 65,783 - 793 + 65,783 65,577
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,581 - 8 + 8,581 8,559
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 45,221 + 118 + 45,221 45,300
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 40,283 + 342 + 40,283 40,547
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,548 + 1 + 16,548 16,549
Net portfolio holdings of TALF II LLC (7) 11,716 + 1 + 11,716 11,716
Float -246 - 27 - 129 -501
Central bank liquidity swaps (8) 8,132 - 7,706 + 8,089 7,478
Other Federal Reserve assets (9) 37,962 + 3,338 + 10,954 39,037
Foreign currency denominated assets (10) 21,621 + 42 + 1,020 21,614
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,439 + 14 + 432 50,439
Total factors supplying reserve funds 7,133,672 + 25,699 +3,137,152 7,199,783
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and Averages of daily figures Wednesday
reserve balances of depository institutions at Week ended Change from week ended Oct 14, 2020
Federal Reserve Banks Oct 14, 2020 Oct 7, 2020 Oct 16, 2019
Currency in circulation (11) 2,041,092 + 6,178 + 270,331 2,042,774
Reverse repurchase agreements (12) 190,140 - 9,080 - 109,463 195,828
Foreign official and international accounts 190,110 - 9,108 - 107,146 195,828
Others 30 + 28 - 2,317 0
Treasury cash holdings 27 + 2 - 171 38
Deposits with F.R. Banks, other than reserve balances 1,874,176 + 4,226 +1,474,066 1,883,707
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,680,998 - 16,076 +1,356,394 1,647,937
Foreign official 18,902 + 10 + 13,716 18,902
Other (13) 174,277 + 20,293 + 103,957 216,868
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 52,308 + 3,305 + 6,827 55,702
Total factors, other than reserve balances,
absorbing reserve funds 4,271,743 + 4,630 +1,755,590 4,292,049
Reserve balances with Federal Reserve Banks 2,861,929 + 21,069 +1,381,561 2,907,734
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. Also includes net
portfolio holdings of Maiden Lane LLC.
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 Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.
Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Week ended Change from week ended Oct 14, 2020
Oct 14, 2020 Oct 7, 2020 Oct 16, 2019
Securities held in custody for foreign official and
international accounts 3,410,500 + 52 - 1,415 3,407,974
Marketable U.S. Treasury securities (1) 2,978,751 - 1,031 + 13,846 2,974,563
Federal agency debt and mortgage-backed securities (2) 345,690 + 297 - 19,690 347,361
Other securities (3) 86,059 + 785 + 4,428 86,050
Securities lent to dealers 28,333 + 4,345 + 2,398 26,200
Overnight facility (4) 28,333 + 4,345 + 2,398 26,200
U.S. Treasury securities 28,333 + 4,345 + 2,398 26,200
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.
2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, October 14, 2020
Millions of dollars
Remaining Maturity Within 15 16 days to 91 days to Over 1 year Over 5 year Over 10 All
days 90 days 1 year to 5 years to 10 years years
Loans (1) 1,975 5,194 1,924 65,577 0 ... 74,670
U.S. Treasury securities (2)
Holdings 49,893 284,509 656,000 1,697,513 797,937 999,126 4,484,978
Weekly changes - 10,780 + 3,151 + 7,647 + 10,758 + 825 + 3,529 + 15,130
Federal agency debt securities (3)
Holdings 0 0 0 0 1,436 911 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 5 2,140 78,252 1,966,441 2,046,839
Weekly changes 0 0 0 0 + 14 + 64,036 + 64,050
Commercial paper held by Commercial
Paper Funding Facility II LLC (5) 0 0 0 ... ... ... 0
Loan participations held by MS
Facilities LLC (Main Street Lending
Program) (6) 0 0 0 3,018 ... ... 3,018
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,200 451 ... ... 1,651
Loans held by TALF II LLC (8) 0 0 0 3,127 ... ... 3,127
Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000
Central bank liquidity swaps (10) 2,774 4,704 0 0 0 0 7,478
Reverse repurchase agreements (9) 195,828 0 ... ... ... ... 195,828
Term deposits 0 0 0 ... ... ... 0
Note: Components may not sum to totals because of rounding.
...Not applicable.
1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary
Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity
Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New
York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal
Liquidity Facility LLC, and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS
Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition,
respectively, consistent with consolidation under generally accepted accounting principles.
2. Face value. For inflation-indexed securities, includes the original face value and compensation
that adjusts for the effect of inflation on the original face value of such securities.
3. Face value.
4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC.
6. Book value of the loan participations held by the MS Facilities LLC.
7. Book value of the municipal notes held by the Municipal Liquidity Facility LLC.
8. Book value of the loans held by the TALF II LLC.
9. Cash value of agreements.
10. 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.
3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Oct 14, 2020
Mortgage-backed securities held outright (1) 2,046,839
Residential mortgage-backed securities 2,037,299
Commercial mortgage-backed securities 9,540
Commitments to buy mortgage-backed securities (2) 118,301
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 4
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 Oct 14, 2020
Net portfolio holdings of
Credit Facilities LLCs
Outstanding
principal Outstanding
amount amount of Treasury
of loan facility contributions
extended to asset and
the LLC (1) purchases (2)other assets (3) Total
Commercial Paper Funding Facility II LLC 0 0 8,559 8,559
Corporate Credit Facilities LLC 13,068 13,247 32,053 45,300
MS Facilities LLC (Main Street Lending Program) 3,017 3,018 37,529 40,547
Municipal Liquidity Facility LLC 1,651 1,651 14,898 16,549
TALF II LLC 3,207 3,127 8,589 11,716
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 Commercial Paper Funding Facility II LLC includes commercial paper at book value.
b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and
corporate bonds at book value. Asset balances
from trading activity are reported on a one-day lag after the transaction date.
c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face
value.
d. 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.
e. 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 initially 15% of Treasury contributions to the credit facilities from the
following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC,
Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table
6.
5. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Oct 14, 2020 Wednesday Wednesday
consolidation Oct 7, 2020 Oct 16, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,483 + 2 - 201
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 6,942,805 + 81,201 +3,041,385
Securities held outright (1) 6,534,164 + 79,180 +2,945,595
U.S. Treasury securities 4,484,978 + 15,130 +2,361,893
Bills (2) 326,044 0 + 320,042
Notes and bonds, nominal (2) 3,826,856 + 12,266 +1,855,289
Notes and bonds, inflation-indexed (2) 291,159 + 2,399 + 170,166
Inflation compensation (3) 40,919 + 465 + 16,396
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,046,839 + 64,050 + 583,702
Unamortized premiums on securities held outright
(5) 337,568 + 3,237 + 209,951
Unamortized discounts on securities held outright
(5) -4,597 + 97 + 7,929
Repurchase agreements (6) 1,000 - 59 - 196,700
Loans (7) 74,670 - 1,254 + 74,610
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,559 - 31 + 8,559
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 45,300 + 136 + 45,300
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 40,547 + 471 + 40,547
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,549 + 1 + 16,549
Net portfolio holdings of TALF II LLC (8) 11,716 + 1 + 11,716
Items in process of collection (0) 101 + 44 + 21
Bank premises 2,194 + 5 + 8
Central bank liquidity swaps (9) 7,478 - 8,360 + 7,435
Foreign currency denominated assets (10) 21,614 + 63 + 992
Other assets (11) 36,843 + 3,244 + 12,644
Total assets (0) 7,151,426 + 76,777 +3,184,955
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations Wednesday Change since
from Oct 14, 2020 Wednesday Wednesday
consolidation Oct 7, 2020 Oct 16, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 1,993,852 + 4,411 + 269,462
Reverse repurchase agreements (12) 195,828 + 7,285 - 106,969
Deposits (0) 4,791,441 + 58,714 +2,896,886
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 2,907,734 + 44,377 +1,437,863
U.S. Treasury, General Account 1,647,937 - 39,497 +1,286,440
Foreign official 18,902 + 5 + 13,716
Other (13) (0) 216,868 + 53,829 + 158,867
Deferred availability cash items (0) 603 + 138 + 383
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 16,479 + 6,225 + 11,293
Total liabilities (0) 7,112,204 + 76,773 +3,185,057
Capital accounts
Capital paid in 32,397 + 3 - 102
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 39,222 + 3 - 102
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. Also includes net portfolio holdings of Maiden Lane LLC.
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 Commercial Paper Funding Facility II LLC of $10
billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, Municipal
Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the
Money Market Mutual Fund Liquidity Facility of $1.5 billion.
15. Includes the liability for earnings remittances due to the U.S. Treasury.
6. Statement of Condition of Each Federal Reserve Bank, October 14, 2020
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 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045
Coin 1,483 27 30 123 83 206 148 249 28 40 100 170 279
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 6,942,805 162,372 3,568,239 163,140 217,141 434,535 509,890 387,558 110,385 71,967 115,135 333,954 868,488
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,559 0 8,559 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 45,300 0 45,300 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 40,547 40,547 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,549 0 16,549 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 11,716 0 11,716 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 7,478 355 2,513 269 639 1,578 371 290 123 59 79 89 1,113
Foreign currency denominated
assets (4) 21,614 1,026 7,265 778 1,847 4,561 1,072 839 354 169 228 257 3,218
Other assets (5) 39,138 2,479 17,496 956 1,281 2,743 2,988 2,207 763 520 918 2,042 4,745
Interdistrict settlement account 0 - 44,143 + 433,473 - 29,584 + 68,956 - 5,477 - 108,732 - 26,174 - 24,204 - 14,918 - 25,842 - 53,872 - 169,484
Total assets 7,151,426 163,196 4,116,623 136,210 290,709 439,311 407,921 366,106 87,929 58,108 91,069 283,840 710,403
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, October 14, 2020 (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 1,993,852 62,052 664,445 56,286 93,988 133,077 280,698 128,696 59,237 33,333 54,734 167,943 259,363
Reverse repurchase agreements (6) 195,828 4,398 101,392 4,468 6,127 12,273 14,432 10,938 3,094 1,851 3,114 9,438 24,305
Deposits 4,791,441 55,335 3,254,360 73,620 186,672 284,576 109,799 224,030 24,539 21,799 32,436 105,045 419,232
Depository institutions 2,907,734 55,323 1,480,567 73,618 186,638 283,822 109,637 116,885 24,533 21,747 32,407 103,372 419,186
U.S. Treasury, General Account 1,647,937 0 1,647,937 0 0 0 0 0 0 0 0 0 0
Foreign official 18,902 2 18,875 1 3 8 2 2 1 0 0 0 6
Other (7) 216,868 10 106,981 0 31 745 160 107,143 6 51 29 1,672 40
Earnings remittances due to the U.S.
Treasury (8) 2,581 58 1,354 58 81 165 189 139 39 21 34 122 321
Treasury contributions to credit
facilities (9) 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 14,501 522 6,902 371 460 1,041 1,007 770 292 776 330 629 1,401
Total liabilities 7,112,204 161,365 4,103,452 134,802 287,328 431,132 406,125 364,573 87,200 57,780 90,648 283,177 704,623
Capital
Capital paid in 32,397 1,508 10,878 1,162 2,797 6,738 1,458 1,268 616 275 349 583 4,765
Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 7,151,426 163,196 4,116,623 136,210 290,709 439,311 407,921 366,106 87,929 58,108 91,069 283,840 710,403
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
6. Statement of Condition of Each Federal Reserve Bank, October 14, 2020 (continued)
1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight
securities lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the
purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on an
effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary, secondary, and
seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit
extensions.
2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.
3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals
the market exchange rate used when the foreign currency was acquired from the foreign central bank.
4. Revalued daily at current foreign currency exchange rates.
5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. Also includes Net portfolio
holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.
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 a $6.825 billion surplus.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and
Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 billion.
Note on consolidation:
The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal
Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S
dollar-denominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On
May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans or bonds at
issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate Credit Facility.
The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began extending loans to the
Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury
as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help
support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the
FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help ensure credit flows to small and
medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are used to secure the loan from the
FRBB.
The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with generally
accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the
statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs consolidated
to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in table 1 and
table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this
table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).
7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Oct 14, 2020
Federal Reserve notes outstanding 2,139,513
Less: Notes held by F.R. Banks not subject to collateralization 145,661
Federal Reserve notes to be collateralized 1,993,852
Collateral held against Federal Reserve notes 1,993,852
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 1,977,615
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,535,164
Less: Face value of securities under reverse repurchase agreements 186,060
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,349,104
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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