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Release Date: December 03, 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 December 3, 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 Dec 2, 2020
Federal Reserve Banks Dec 2, 2020 Nov 25, 2020 Dec 4, 2019
Reserve Bank credit 7,177,035 - 37,245 +3,157,735 7,181,887
Securities held outright (1) 6,613,957 - 33,626 +2,937,409 6,620,378
U.S. Treasury securities 4,607,993 + 12,790 +2,357,516 4,614,410
Bills (2) 326,044 0 + 218,456 326,044
Notes and bonds, nominal (2) 3,934,954 + 9,707 +1,941,465 3,940,382
Notes and bonds, inflation-indexed (2) 303,875 + 2,770 + 179,503 304,826
Inflation compensation (3) 43,120 + 314 + 18,091 43,158
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,003,617 - 46,416 + 579,893 2,003,621
Unamortized premiums on securities held outright (5) 339,879 - 1,657 + 214,320 340,177
Unamortized discounts on securities held outright (5) -4,995 - 11 + 8,110 -5,066
Repurchase agreements (6) 1,000 0 - 209,197 1,000
Foreign official 1,000 0 + 1,000 1,000
Others 0 0 - 210,197 0
Loans 63,010 - 1,759 + 62,993 61,613
Primary credit 2,334 - 299 + 2,331 1,992
Secondary credit 0 0 0 0
Seasonal credit 0 0 - 14 0
Primary Dealer Credit Facility 243 - 10 + 243 250
Money Market Mutual Fund Liquidity Facility 4,915 - 284 + 4,915 4,492
Paycheck Protection Program Liquidity Facility 55,518 - 1,166 + 55,518 54,879
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,559 + 2 + 8,559 8,563
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 46,028 + 126 + 46,028 46,078
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 43,498 + 406 + 43,498 43,783
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 16,555 + 1 + 16,555 16,556
Net portfolio holdings of TALF II LLC (7) 12,218 - 75 + 12,218 12,118
Float -464 - 318 - 82 -584
Central bank liquidity swaps (8) 8,355 + 682 + 8,308 8,449
Other Federal Reserve assets (9) 29,434 - 1,017 + 9,015 28,822
Foreign currency denominated assets (10) 21,942 + 135 + 1,343 22,118
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,500 + 14 + 450 50,500
Total factors supplying reserve funds 7,265,717 - 37,097 +3,159,526 7,270,745
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 Dec 2, 2020
Federal Reserve Banks Dec 2, 2020 Nov 25, 2020 Dec 4, 2019
Currency in circulation (11) 2,067,181 + 5,050 + 273,995 2,067,772
Reverse repurchase agreements (12) 189,060 - 7,015 - 94,657 185,537
Foreign official and international accounts 189,059 - 6,661 - 94,241 185,536
Others 1 - 354 - 416 1
Treasury cash holdings 44 - 9 - 142 41
Deposits with F.R. Banks, other than reserve balances 1,728,257 - 67,551 +1,317,494 1,751,494
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,531,053 + 13,838 +1,184,082 1,557,239
Foreign official 21,279 + 5 + 16,096 21,288
Other (13) 175,925 - 81,394 + 117,315 172,967
Treasury contributions to credit facilities (14) 114,000 0 + 114,000 114,000
Other liabilities and capital (15) 49,867 - 1,245 + 4,789 50,666
Total factors, other than reserve balances,
absorbing reserve funds 4,148,410 - 70,769 +1,615,480 4,169,511
Reserve balances with Federal Reserve Banks 3,117,307 + 33,671 +1,544,046 3,101,235
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 Dec 2, 2020
Dec 2, 2020 Nov 25, 2020 Dec 4, 2019
Securities held in custody for foreign official and
international accounts 3,467,582 + 8,894 + 50,660 3,469,639
Marketable U.S. Treasury securities (1) 3,019,526 + 12,634 + 51,812 3,021,438
Federal agency debt and mortgage-backed securities (2) 361,267 - 5,073 - 4,033 361,465
Other securities (3) 86,789 + 1,333 + 2,882 86,736
Securities lent to dealers 31,398 + 4,016 + 484 33,829
Overnight facility (4) 31,398 + 4,016 + 484 33,829
U.S. Treasury securities 31,398 + 4,016 + 484 33,829
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, December 2, 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) 1,039 4,921 774 54,879 0 ... 61,613
U.S. Treasury securities (2)
Holdings 56,723 335,898 630,853 1,726,236 829,664 1,035,037 4,614,410
Weekly changes - 22,062 + 45,148 - 38,061 + 14,341 + 2,967 + 5,498 + 7,830
Federal agency debt securities (3)
Holdings 0 0 0 0 1,818 529 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 4 2,112 73,904 1,927,599 2,003,621
Weekly changes 0 0 0 + 65 - 66 + 29 + 29
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 6,308 ... ... 6,308
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 0 1,003 451 ... ... 1,454
Loans held by TALF II LLC (8) 0 0 0 3,548 ... ... 3,548
Repurchase agreements (9) 1,000 0 ... ... ... ... 1,000
Central bank liquidity swaps (10) 3,281 5,168 0 0 0 0 8,449
Reverse repurchase agreements (9) 185,537 0 ... ... ... ... 185,537
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
Dec 2, 2020
Mortgage-backed securities held outright (1) 2,003,621
Residential mortgage-backed securities 1,993,835
Commercial mortgage-backed securities 9,785
Commitments to buy mortgage-backed securities (2) 198,566
Commitments to sell mortgage-backed securities (2) 10
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 Dec 2, 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 8,563 8,563
Corporate Credit Facilities LLC 13,728 13,942 32,136 46,078
MS Facilities LLC (Main Street Lending Program) 6,303 6,212 37,571 43,783
Municipal Liquidity Facility LLC 1,651 1,454 15,102 16,556
TALF II LLC 3,602 3,548 8,570 12,118
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, net of an
allowance for loan losses updated as of
September 30, 2020, 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 Dec 2, 2020 Wednesday Wednesday
consolidation Nov 25, 2020 Dec 4, 2019
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,514 - 8 - 106
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,018,103 + 5,674 +3,011,753
Securities held outright (1) 6,620,378 + 7,860 +2,934,453
U.S. Treasury securities 4,614,410 + 7,830 +2,354,557
Bills (2) 326,044 0 + 212,027
Notes and bonds, nominal (2) 3,940,382 + 6,067 +1,943,978
Notes and bonds, inflation-indexed (2) 304,826 + 1,664 + 180,454
Inflation compensation (3) 43,158 + 99 + 18,098
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,003,621 + 29 + 579,896
Unamortized premiums on securities held outright
(5) 340,177 + 159 + 214,636
Unamortized discounts on securities held outright
(5) -5,066 - 96 + 8,065
Repurchase agreements (6) 1,000 0 - 207,007
Loans (7) 61,613 - 2,251 + 61,604
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,563 + 6 + 8,563
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 46,078 + 96 + 46,078
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 43,783 + 412 + 43,783
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 16,556 + 1 + 16,556
Net portfolio holdings of TALF II LLC (8) 12,118 - 176 + 12,118
Items in process of collection (0) 74 - 21 + 21
Bank premises 2,192 - 6 + 1
Central bank liquidity swaps (9) 8,449 + 604 + 8,402
Foreign currency denominated assets (10) 22,118 + 285 + 1,514
Other assets (11) 26,631 - 931 + 8,037
Total assets (0) 7,222,414 + 5,934 +3,156,718
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 Dec 2, 2020 Wednesday Wednesday
consolidation Nov 25, 2020 Dec 4, 2019
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,018,824 + 1,746 + 273,377
Reverse repurchase agreements (12) 185,537 - 12,367 - 91,837
Deposits (0) 4,852,730 + 14,776 +2,855,341
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,101,235 - 42,628 +1,507,516
U.S. Treasury, General Account 1,557,239 + 73,203 +1,218,786
Foreign official 21,288 + 14 + 16,107
Other (13) (0) 172,967 - 15,814 + 112,931
Deferred availability cash items (0) 658 + 338 + 150
Treasury contributions to credit facilities (14) 114,000 0 + 114,000
Other liabilities and accrued dividends (15) 11,438 + 1,438 + 5,360
Total liabilities (0) 7,183,187 + 5,931 +3,156,390
Capital accounts
Capital paid in 32,403 + 3 + 329
Surplus 6,825 0 0
Other capital accounts 0 0 0
Total capital 39,228 + 3 + 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 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, December 2, 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 1,514 30 34 129 83 204 147 254 32 43 103 176 279
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,018,103 162,090 3,613,379 164,640 219,355 439,386 515,529 390,175 111,498 73,110 115,850 337,545 875,548
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,563 0 8,563 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 46,078 0 46,078 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 43,783 43,783 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 16,556 0 16,556 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 12,118 0 12,118 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 8,449 401 2,839 304 722 1,783 419 328 138 66 89 100 1,258
Foreign currency denominated
assets (4) 22,118 1,045 7,499 792 1,882 4,647 1,092 855 361 172 232 261 3,278
Other assets (5) 28,897 2,246 12,189 727 955 2,072 2,203 1,635 749 413 748 1,489 3,471
Interdistrict settlement account 0 - 19,708 + 230,378 - 20,600 + 71,188 + 99,801 - 117,822 - 2,852 - 23,099 - 12,390 - 20,346 - 42,804 - 141,745
Total assets 7,222,414 190,419 3,955,115 146,521 294,945 549,059 403,750 391,532 90,157 61,685 97,126 297,970 744,134
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, December 2, 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 2,018,824 62,259 674,196 55,937 92,693 143,393 280,865 131,312 58,873 33,333 54,659 169,357 261,947
Reverse repurchase agreements (6) 185,537 4,167 96,063 4,233 5,805 11,628 13,673 10,363 2,931 1,753 2,950 8,942 23,027
Deposits 4,852,730 82,730 3,091,300 84,615 192,647 384,925 106,554 247,661 27,367 25,456 38,804 118,480 452,190
Depository institutions 3,101,235 82,702 1,461,712 84,614 192,611 384,277 106,476 128,148 27,361 25,397 38,533 117,261 452,143
U.S. Treasury, General Account 1,557,239 0 1,557,239 0 0 0 0 0 0 0 0 0 0
Foreign official 21,288 2 21,262 1 3 8 2 2 1 0 0 0 6
Other (7) 172,967 26 51,087 0 32 640 76 119,511 5 59 271 1,219 40
Earnings remittances due to the U.S.
Treasury (8) 2,061 40 1,094 48 73 104 156 111 30 22 36 85 263
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 10,036 391 4,294 280 344 830 703 554 226 792 256 441 926
Total liabilities 7,183,187 188,587 3,941,946 145,112 291,562 540,880 401,952 390,000 89,428 61,356 96,705 297,306 738,352
Capital
Capital paid in 32,403 1,509 10,875 1,163 2,800 6,738 1,460 1,267 618 275 349 583 4,766
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 7,222,414 190,419 3,955,115 146,521 294,945 549,059 403,750 391,532 90,157 61,685 97,126 297,970 744,134
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, December 2, 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
Dec 2, 2020
Federal Reserve notes outstanding 2,170,510
Less: Notes held by F.R. Banks not subject to collateralization 151,687
Federal Reserve notes to be collateralized 2,018,824
Collateral held against Federal Reserve notes 2,018,824
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,002,587
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 6,621,378
Less: Face value of securities under reverse repurchase agreements 177,873
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,443,506
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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