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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

August 19, 2021

 

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Aug 18, 2021

Week ended
Aug 18, 2021

Change from week ended

Aug 11, 2021

Aug 19, 2020

Reserve Bank credit

 8,298,122

+   93,180

+1,332,817

 8,303,796

Securities held outright1

 7,775,510

+   98,714

+1,464,842

 7,791,636

U.S. Treasury securities

 5,313,850

+   24,186

+  984,543

 5,323,651

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,576,355

+   21,233

+  885,616

 4,584,442

Notes and bonds, inflation-indexed2

   352,028

+    1,886

+   76,321

   353,344

Inflation compensation3

    59,423

+    1,067

+   22,606

    59,821

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,459,313

+   74,528

+  480,298

 2,465,638

Unamortized premiums on securities held outright5

   354,832

+    1,820

+   29,562

   354,940

Unamortized discounts on securities held outright5

   -14,955

-      157

-   10,027

   -15,191

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    81,639

-    1,703

-      858

    80,808

Primary credit

       293

+       21

-    2,366

       291

Secondary credit

         0

         0

         0

         0

Seasonal credit

        23

+        6

-       18

        28

Primary Dealer Credit Facility

         0

         0

-      693

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-   11,202

         0

Paycheck Protection Program Liquidity Facility

    81,323

-    1,730

+   13,420

    80,489

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,601

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

    17,114

-      798

-   27,352

    17,116

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

    30,556

-       12

-    7,333

    30,534

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,765

+        2

-    6,323

     9,766

Net portfolio holdings of TALF II LLC7

     4,513

         0

-    6,257

     4,513

Float

      -120

-       13

+       85

      -129

Central bank liquidity swaps8

       497

+       13

-   95,325

       488

Other Federal Reserve assets9

    38,772

-    4,685

+      405

    29,315

Foreign currency denominated assets10

    21,202

+       34

-      437

    21,128

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,810

+       14

+      511

    50,810

 

 

 

 

 

Total factors supplying reserve funds

 8,386,375

+   93,228

+1,332,891

 8,391,974

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks

Averages of daily figures

Wednesday
Aug 18, 2021

Week ended
Aug 18, 2021

Change from week ended

Aug 11, 2021

Aug 19, 2020

Currency in circulation11

 2,187,964

-      655

+  180,506

 2,188,089

Reverse repurchase agreements12

 1,329,660

+   86,918

+1,115,083

 1,385,401

Foreign official and international accounts

   265,989

-    7,951

+   51,454

   269,745

Others

 1,063,670

+   94,868

+1,063,628

 1,115,656

Treasury cash holdings

        48

+        2

-        8

        54

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

   590,843

-   88,456

-1,247,693

   567,620

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   338,808

-   96,111

-1,304,697

   313,651

Foreign official

     7,753

-      168

-    8,850

     7,232

Other13

   244,282

+    7,823

+   65,854

   246,737

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    50,870

-      785

-      301

    48,368

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,199,664

-    2,976

-   26,135

 4,229,810

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,186,711

+   96,205

+1,359,026

 4,162,165

Note: Components may not sum to totals because of rounding.
 

1.

Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2.

Face value of the securities.

3.

Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of
the securities.

5.

Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been amortized.  For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest basis.

6.

Cash value of agreements.

7.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

8.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned
to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the
foreign central bank.

9.

Includes bank premises, accrued interest, and other accounts receivable. 

10.

Revalued daily at current foreign currency exchange rates.

11.

Estimated.

12.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

13.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

14.

Book value. Amount of equity investments in 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.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.

 

 


 

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.


 

 


 

H.4.1

 

1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Aug 18, 2021

Week ended
Aug 18, 2021

Change from week ended

Aug 11, 2021

Aug 19, 2020

Securities held in custody for foreign official and international accounts

 3,502,193

+    5,921

+   84,783

 3,508,090

Marketable U.S. Treasury securities1

 3,068,034

+    6,389

+   96,390

 3,074,668

Federal agency debt and mortgage-backed securities2

   341,794

-      529

-   18,134

   341,163

Other securities3

    92,365

+       60

+    6,527

    92,260

Securities lent to dealers

    30,513

+      150

+    3,150

    36,380

Overnight facility4

    30,513

+      150

+    3,150

    36,380

U.S. Treasury securities

    30,513

+      150

+    3,150

    36,380

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.


 

 

 


 

H.4.1

 

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, August 18, 2021

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans1

       107

       212

     9,375

    71,114

         0

...

    80,808

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    79,791

   297,515

   696,797

 2,021,245

   973,108

 1,255,194

 5,323,651

Weekly changes

-   29,185

+   39,101

+   20,106

-   31,083

+    5,121

+   16,097

+   20,156

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,134

       213

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         0

        18

     1,812

    63,730

 2,400,078

 2,465,638

Weekly changes

         0

         0

         0

-        6

-      491

+   81,350

+   80,853

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    16,115

...

...

    16,115

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,469

...

...

     1,469

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       483

         5

         0

         0

         0

         0

       488

Reverse repurchase agreements8

 1,385,401

         0

...

...

...

...

 1,385,401

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, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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 the loan participations held by the MS Facilities LLC.

6.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

7.

Book value of the loans held by the TALF II LLC.

8.

Cash value of agreements.

9.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to
the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign
central bank.

 

 


 

H.4.1

 

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

Aug 18, 2021

Mortgage-backed securities held outright1

 2,465,638

Residential mortgage-backed securities

 2,455,980

Commercial mortgage-backed securities

     9,658

 

 

Commitments to buy mortgage-backed securities2

   109,499

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         0

 

1.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2.

Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.


 

 


 

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:

Wednesday Aug 18, 2021

 

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

Corporate Credit Facilities LLC

     4,803

     1,595

    15,521

    17,116

MS Facilities LLC (Main Street Lending Program)

    16,050

    13,570

    16,964

    30,534

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,393

     9,766

TALF II LLC

     1,482

     1,469

     3,044

     4,513

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 Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. Asset balances from trading activity are

 

    reported on a one-day lag after the transaction date.

 

b. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 

    updated as of June 30, 2021.

 

c. 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.

 

d. 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: Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF II LLC. Refer to the note on consolidation accompanying table 6.


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Aug 18, 2021

Change since

Wednesday

Wednesday

Aug 11, 2021

Aug 19, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,239

-       11

-      257

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

 

 8,212,192

+  100,833

+1,483,383

Securities held outright1

 

 7,791,636

+  101,009

+1,465,848

U.S. Treasury securities

 

 5,323,651

+   20,156

+  978,107

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,584,442

+   15,803

+  877,607

Notes and bonds, inflation-indexed2

 

   353,344

+    3,202

+   77,637

Inflation compensation3

 

    59,821

+    1,151

+   22,863

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,465,638

+   80,853

+  487,741

Unamortized premiums on securities held outright5

 

   354,940

+    1,905

+   29,046

Unamortized discounts on securities held outright5

 

   -15,191

-      388

-   10,128

Repurchase agreements6

 

         0

         0

         0

Loans7

 

    80,808

-    1,692

-    1,382

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,588

Net portfolio holdings of Corporate Credit Facilities LLC8

 

    17,116

+        2

-   27,364

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

 

    30,534

-       41

-    7,449

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,766

+        2

-    6,323

Net portfolio holdings of TALF II LLC8

 

     4,513

         0

-    6,258

Items in process of collection

(0)

        70

-        6

+       24

Bank premises

 

     1,663

-        2

-      534

Central bank liquidity swaps9

 

       488

-        4

-   95,292

Foreign currency denominated assets10

 

    21,128

+        4

-      594

Other assets11

 

    27,652

-   15,336

+    1,212

 

 

 

 

 

Total assets

(0)

 8,342,598

+   85,439

+1,331,961

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Aug 18, 2021

Change since

Wednesday

Wednesday

Aug 11, 2021

Aug 19, 2020

Liabilities

 

 

 

 

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

 

 2,138,568

-    1,247

+  177,760

Reverse repurchase agreements12

 

 1,385,401

+  117,403

+1,174,059

Deposits

(0)

 4,729,785

-   29,035

+   53,626

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,162,165

+   34,875

+1,340,312

U.S. Treasury, General Account

 

   313,651

-   76,096

-1,322,742

Foreign official

 

     7,232

-      399

-    9,378

Other13

(0)

   246,737

+   12,586

+   45,433

Deferred availability cash items

(0)

       199

-       32

-       92

Treasury contributions to credit facilities14

 

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

 

     8,626

-    1,656

-      534

 

 

 

 

 

Total liabilities

(0)

 8,302,856

+   85,431

+1,331,096

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    32,957

+        8

+      905

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,742

+        8

+      865

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.

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 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.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 18, 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

       531

     5,422

       523

       752

     1,187

     2,188

     1,136

       475

       273

       455

     1,220

     2,075

Coin

     1,239

        17

        23

       114

        57

       180

       113

       234

        15

        30

        87

       144

       225

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

 8,212,192

   135,965

 4,606,452

   174,983

   311,535

   546,148

   477,116

   444,366

   106,798

    88,768

   109,577

   360,541

   849,943

Net portfolio holdings of Corporate Credit Facilities LLC2

    17,116

         0

    17,116

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,534

    30,534

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,766

         0

     9,766

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,513

         0

     4,513

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       488

        22

       164

        18

        42

       102

        22

        19

         9

         4

         5

         9

        72

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    21,128

       959

     7,101

       759

     1,827

     4,397

       956

       828

       402

       180

       229

       381

     3,111

Other assets5

    29,385

       581

    15,180

       720

     1,144

     2,240

     1,849

     1,633

       542

       395

       706

     1,401

     2,993

Interdistrict settlement account

         0

+   22,764

-  452,305

+   12,616

+   28,536

+   32,755

+   59,281

+  101,333

+   15,951

-    7,946

+   18,495

+   48,093

+  120,428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,342,598

   191,373

 4,213,432

   189,733

   343,893

   587,008

   541,525

   549,549

   124,192

    81,704

   129,554

   411,789

   978,846

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 18, 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

 2,138,568

    69,407

   690,513

    63,433

   102,640

   155,069

   306,884

   125,239

    57,904

    33,044

    55,187

   196,041

   283,206

Reverse repurchase agreements6

 1,385,401

    23,151

   783,106

    29,261

    50,409

    92,833

    81,174

    75,602

    18,062

    10,720

    18,397

    61,265

   141,422

Deposits

 4,729,785

    82,303

 2,697,687

    95,218

   186,908

   330,012

   150,938

   346,483

    47,236

    37,357

    55,254

   153,022

   547,366

Depository institutions

 4,162,165

    82,293

 2,310,483

    95,217

   186,861

   329,484

   150,804

   168,124

    47,217

    37,158

    54,425

   152,760

   547,339

U.S. Treasury, General Account

   313,651

         0

   313,651

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,232

         2

     7,205

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   246,737

         9

    66,347

         0

        43

       520

       131

   178,358

        19

       199

       829

       261

        21

Earnings remittances due to the U.S. Treasury8

     2,835

        40

     1,640

        56

        97

       161

       173

       162

        33

        25

        41

       132

       276

Treasury contributions to credit facilities9

    40,278

    16,572

    23,706

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     5,989

    -1,865

     3,467

       265

       330

       765

       588

       524

       213

       333

       239

       390

       741

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,302,856

   189,608

 4,200,120

   188,234

   340,384

   578,839

   539,756

   548,009

   123,449

    81,479

   129,118

   410,850

   973,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    32,957

     1,457

    11,032

     1,256

     2,922

     6,756

     1,462

     1,275

       614

       167

       362

       817

     4,837

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

 8,342,598

   191,373

 4,213,432

   189,733

   343,893

   587,008

   541,525

   549,549

   124,192

    81,704

   129,554

   411,789

   978,846

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, August 18, 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, Paycheck Protection Program Liquidity Facility,

 

and other credit extensions.

2.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate
equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

4.

Revalued daily at current foreign currency exchange rates.

5.

Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.

6.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8.

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 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.

 

  

 

 

 

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).

 

 

 


 

H.4.1

 

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts

Millions of dollars

Federal Reserve notes and collateral

Wednesday

Aug 18, 2021

Federal Reserve notes outstanding

 2,366,804

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

   228,237

Federal Reserve notes to be collateralized

 2,138,568

Collateral held against Federal Reserve notes

 2,138,568

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,122,331

Other assets pledged

         0

Memo:

 

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

 7,791,636

Less: Face value of securities under reverse repurchase agreements

 1,315,417

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

 6,476,219

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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