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Release Date: March 25, 2021
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FEDERAL RESERVE statistical release
H.4.1
Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks March 25, 2021
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 Mar 24, 2021
Federal Reserve Banks Mar 24, 2021 Mar 17, 2021 Mar 25, 2020
Reserve Bank credit 7,685,219 + 48,871 +2,714,855 7,680,260
Securities held outright (1) 7,163,888 + 46,486 +2,976,470 7,158,456
U.S. Treasury securities 4,915,718 + 17,911 +2,102,232 4,921,302
Bills (2) 326,044 0 0 326,044
Notes and bonds, nominal (2) 4,215,571 + 16,211 +1,910,751 4,218,391
Notes and bonds, inflation-indexed (2) 328,824 + 1,201 + 174,351 331,223
Inflation compensation (3) 45,279 + 500 + 17,130 45,644
Federal agency debt securities (2) 2,347 0 0 2,347
Mortgage-backed securities (4) 2,245,823 + 28,574 + 874,238 2,234,807
Unamortized premiums on securities held outright (5) 352,917 + 1,172 + 201,438 352,461
Unamortized discounts on securities held outright (5) -8,560 - 370 + 2,445 -9,013
Repurchase agreements (6) 0 - 429 - 387,528 0
Foreign official 0 - 429 0 0
Others 0 0 - 387,528 0
Loans 58,290 + 1,256 - 3,040 58,981
Primary credit 1,015 - 160 - 38,914 1,054
Secondary credit 0 0 0 0
Seasonal credit 0 0 0 0
Primary Dealer Credit Facility 114 - 74 - 14,276 25
Money Market Mutual Fund Liquidity Facility 557 - 34 - 6,454 516
Paycheck Protection Program Liquidity Facility 56,603 + 1,523 + 56,603 57,387
Other credit extensions 0 0 0 0
Net portfolio holdings of Commercial Paper Funding
Facility II LLC (7) 8,562 + 5 + 8,562 8,556
Net portfolio holdings of Corporate Credit Facilities
LLC (7) 26,012 - 12 + 26,012 26,023
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (7) 30,941 - 22 + 30,941 30,945
Net portfolio holdings of Municipal Liquidity
Facility LLC (7) 11,551 + 3 + 11,551 11,553
Net portfolio holdings of TALF II LLC (7) 5,648 0 + 5,648 5,649
Float -107 + 8 + 83 -191
Central bank liquidity swaps (8) 832 - 413 - 167,982 832
Other Federal Reserve assets (9) 35,245 + 1,187 + 10,256 36,008
Foreign currency denominated assets (10) 21,446 - 33 + 1,403 21,372
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding (11) 50,609 + 14 + 438 50,609
Total factors supplying reserve funds 7,773,515 + 48,852 +2,716,696 7,768,483
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 Mar 24, 2021
Federal Reserve Banks Mar 24, 2021 Mar 17, 2021 Mar 25, 2020
Currency in circulation (11) 2,121,986 + 12,452 + 262,254 2,131,990
Reverse repurchase agreements (12) 229,161 + 19,647 - 54,308 234,444
Foreign official and international accounts 208,166 + 3,246 - 46,207 212,542
Others 20,995 + 16,401 - 8,101 21,902
Treasury cash holdings 99 - 9 - 226 92
Deposits with F.R. Banks, other than reserve balances 1,495,095 - 125,373 + 815,411 1,493,563
Term deposits held by depository institutions 0 0 0 0
U.S. Treasury, General Account 1,061,138 - 211,445 + 670,886 1,031,908
Foreign official 29,805 + 3,495 + 19,446 30,598
Other (13) 404,153 + 82,577 + 125,080 431,056
Treasury contributions to credit facilities (14) 51,778 0 + 51,778 51,778
Other liabilities and capital (15) 49,021 - 3,210 + 2,384 47,477
Total factors, other than reserve balances,
absorbing reserve funds 3,947,141 - 96,492 +1,077,293 3,959,344
Reserve balances with Federal Reserve Banks 3,826,375 + 145,345 +1,639,404 3,809,139
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 $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 Mar 24, 2021
Mar 24, 2021 Mar 17, 2021 Mar 25, 2020
Securities held in custody for foreign official and
international accounts 3,566,573 - 9,478 + 211,300 3,557,771
Marketable U.S. Treasury securities (1) 3,124,564 - 9,111 + 233,237 3,120,840
Federal agency debt and mortgage-backed securities (2) 354,832 + 610 - 26,059 350,051
Other securities (3) 87,177 - 976 + 4,122 86,881
Securities lent to dealers 36,665 - 2,916 + 1,718 40,269
Overnight facility (4) 36,665 - 2,916 + 1,718 40,269
U.S. Treasury securities 36,665 - 2,916 + 1,722 40,269
Federal agency debt securities 0 0 - 3 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, March 24, 2021
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) 1,038 556 13 57,373 0 ... 58,981
U.S. Treasury securities (2)
Holdings 84,218 345,338 625,588 1,866,998 878,599 1,120,562 4,921,302
Weekly changes + 5,001 - 388 - 4,584 + 2,199 + 1,484 + 5,958 + 9,669
Federal agency debt securities (3)
Holdings 0 0 0 0 2,134 213 2,347
Weekly changes 0 0 0 0 0 0 0
Mortgage-backed securities (4)
Holdings 0 0 8 2,026 70,211 2,162,561 2,234,807
Weekly changes 0 0 0 0 0 + 13,379 + 13,378
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 16,530 ... ... 16,530
Municipal notes held by Municipal
Liquidity Facility LLC (7) 0 700 0 5,358 ... ... 6,058
Loans held by TALF II LLC (8) 0 0 0 2,227 ... ... 2,227
Repurchase agreements (9) 0 0 ... ... ... ... 0
Central bank liquidity swaps (10) 192 640 0 0 0 0 832
Reverse repurchase agreements (9) 234,444 0 ... ... ... ... 234,444
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
Mar 24, 2021
Mortgage-backed securities held outright (1) 2,234,807
Residential mortgage-backed securities 2,224,887
Commercial mortgage-backed securities 9,920
Commitments to buy mortgage-backed securities (2) 147,858
Commitments to sell mortgage-backed securities (2) 0
Cash and cash equivalents (3) 388
1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the
remaining principal balance of the securities.
2. Current face value. Includes residential and commercial mortgage-backed securities. Residential
mortgage-backed securities generally settle within 180 calendar days and include commitments associated
with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities
generally settle within three business days.
3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5
and table 6.
4. Information on Principal Accounts of Credit Facilities LLCs
Millions of dollars
Credit Facilities LLCs: Wednesday Mar 24, 2021
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 8,556 8,556
Corporate Credit Facilities LLC 13,956 13,800 12,223 26,023
MS Facilities LLC (Main Street Lending Program) 16,488 14,117 16,828 30,945
Municipal Liquidity Facility LLC 6,203 6,058 5,495 11,553
TALF II LLC 2,623 2,227 3,421 5,649
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
December 31, 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 approximately 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 Mar 24, 2021 Wednesday Wednesday
consolidation Mar 17, 2021 Mar 25, 2020
Assets
Gold certificate account 11,037 0 0
Special drawing rights certificate account 5,200 0 0
Coin 1,516 - 18 - 125
Securities, unamortized premiums and discounts,
repurchase agreements, and loans 7,560,886 + 24,473 +2,575,882
Securities held outright (1) 7,158,456 + 23,047 +2,793,174
U.S. Treasury securities 4,921,302 + 9,669 +1,942,930
Bills (2) 326,044 0 0
Notes and bonds, nominal (2) 4,218,391 + 5,335 +1,762,266
Notes and bonds, inflation-indexed (2) 331,223 + 3,600 + 164,291
Inflation compensation (3) 45,644 + 734 + 16,373
Federal agency debt securities (2) 2,347 0 0
Mortgage-backed securities (4) 2,234,807 + 13,378 + 850,244
Unamortized premiums on securities held outright
(5) 352,461 + 266 + 184,188
Unamortized discounts on securities held outright
(5) -9,013 - 658 + 1,013
Repurchase agreements (6) 0 0 - 352,355
Loans (7) 58,981 + 1,817 - 50,138
Net portfolio holdings of Commercial Paper
Funding Facility II LLC (8) 8,556 - 7 + 8,556
Net portfolio holdings of Corporate Credit
Facilities LLC (8) 26,023 + 13 + 26,023
Net portfolio holdings of MS Facilities LLC (Main
Street Lending Program) (8) 30,945 + 5 + 30,945
Net portfolio holdings of Municipal Liquidity
Facility LLC (8) 11,553 + 3 + 11,553
Net portfolio holdings of TALF II LLC (8) 5,649 + 1 + 5,649
Items in process of collection (0) 45 - 13 + 8
Bank premises 1,919 + 1 - 288
Central bank liquidity swaps (9) 832 + 42 - 205,219
Foreign currency denominated assets (10) 21,372 - 48 + 1,239
Other assets (11) 34,089 + 1,666 + 11,121
Total assets (0) 7,719,622 + 26,116 +2,465,344
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 Mar 24, 2021 Wednesday Wednesday
consolidation Mar 17, 2021 Mar 25, 2020
Liabilities
Federal Reserve notes, net of F.R. Bank holdings 2,082,985 + 17,616 + 259,017
Reverse repurchase agreements (12) 234,444 + 28,928 - 124,670
Deposits (0) 5,302,702 - 19,794 +2,281,436
Term deposits held by depository institutions 0 0 0
Other deposits held by depository institutions 3,809,139 - 64,184 +1,461,392
U.S. Treasury, General Account 1,031,908 - 57,593 + 647,018
Foreign official 30,598 + 396 + 14,337
Other (13) (0) 431,056 + 101,586 + 158,688
Deferred availability cash items (0) 236 + 94 - 72
Treasury contributions to credit facilities (14) 51,778 0 + 51,778
Other liabilities and accrued dividends (15) 8,255 - 730 - 2,572
Total liabilities (0) 7,680,400 + 26,113 +2,464,917
Capital accounts
Capital paid in 32,437 + 3 + 468
Surplus 6,785 0 - 40
Other capital accounts 0 0 0
Total capital 39,222 + 3 + 428
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 $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal
Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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, March 24, 2021
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 1,516 34 44 121 74 208 142 252 27 44 104 166 301
Securities, unamortized premiums and
discounts, repurchase agreements,
and loans (1) 7,560,886 169,257 3,894,274 175,461 236,997 473,157 554,786 420,370 119,951 82,181 123,273 363,164 948,015
Net portfolio holdings of Commercial
Paper Funding Facility II LLC (2) 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Corporate
Credit Facilities LLC (2) 26,023 0 26,023 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of MS
Facilities LLC (Main Street Lending
Program) (2) 30,945 30,945 0 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of Municipal
Liquidity Facility LLC (2) 11,553 0 11,553 0 0 0 0 0 0 0 0 0 0
Net portfolio holdings of TALF II LLC (2) 5,649 0 5,649 0 0 0 0 0 0 0 0 0 0
Central bank liquidity swaps (3) 832 39 280 30 71 176 41 32 14 7 9 10 124
Foreign currency denominated
assets (4) 21,372 1,014 7,184 769 1,826 4,510 1,060 830 350 167 225 254 3,182
Other assets (5) 36,053 2,377 15,851 912 1,191 2,577 2,707 2,040 681 486 877 1,967 4,386
Interdistrict settlement account 0 - 41,028 + 147,222 + 16,776 + 68,050 + 52,372 - 118,575 + 47,548 - 12,407 - 12,662 - 14,138 - 25,565 - 107,593
Total assets 7,719,622 163,172 4,122,119 194,597 308,970 534,165 442,344 472,209 109,094 70,494 110,800 341,198 850,461
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, March 24, 2021 (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 2,082,985 62,182 675,051 55,994 101,137 157,648 287,327 133,558 59,573 33,174 54,899 182,349 280,092
Reverse repurchase agreements (6) 234,444 5,265 121,385 5,349 7,335 14,694 17,278 13,095 3,704 2,216 3,728 11,299 29,097
Deposits 5,302,702 77,636 3,272,279 131,616 196,871 353,057 135,474 323,590 44,884 34,365 51,520 146,514 534,895
Depository institutions 3,809,139 77,616 1,937,453 131,615 196,829 352,568 135,328 167,328 44,876 34,234 50,497 145,925 534,869
U.S. Treasury, General Account 1,031,908 0 1,031,908 0 0 0 0 0 0 0 0 0 0
Foreign official 30,598 2 30,572 1 3 8 2 2 1 0 0 0 6
Other (7) 431,056 18 272,346 0 38 480 144 156,261 8 130 1,022 588 21
Earnings remittances due to the U.S.
Treasury (8) 1,636 30 884 35 45 87 125 87 24 13 24 80 201
Treasury contributions to credit
facilities (9) 51,778 18,072 33,706 0 0 0 0 0 0 0 0 0 0
Other liabilities and accrued
dividends 6,855 -1,792 5,642 196 195 531 364 344 162 378 196 236 401
Total liabilities 7,680,400 161,394 4,108,947 193,190 305,582 526,017 440,568 470,675 108,349 70,145 110,367 340,478 844,687
Capital
Capital paid in 32,437 1,471 10,891 1,164 2,801 6,735 1,468 1,269 617 291 359 597 4,774
Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999
Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
Total liabilities and capital 7,719,622 163,172 4,122,119 194,597 308,970 534,165 442,344 472,209 109,094 70,494 110,800 341,198 850,461
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, March 24, 2021 (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 each Federal Reserve Bank's allotted surplus cap.
9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and
Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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
Mar 24, 2021
Federal Reserve notes outstanding 2,237,773
Less: Notes held by F.R. Banks not subject to collateralization 154,788
Federal Reserve notes to be collateralized 2,082,985
Collateral held against Federal Reserve notes 2,082,985
Gold certificate account 11,037
Special drawing rights certificate account 5,200
U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2) 2,066,748
Other assets pledged 0
Memo:
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2) 7,158,456
Less: Face value of securities under reverse repurchase agreements 225,928
U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,932,528
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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