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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

September 9, 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
Sep 8, 2021

Week ended
Sep 8, 2021

Change from week ended

Sep 1, 2021

Sep 9, 2020

Reserve Bank credit

 8,316,888

+    9,849

+1,348,659

 8,318,418

Securities held outright1

 7,811,526

+   10,745

+1,468,127

 7,813,156

U.S. Treasury securities

 5,371,111

+   10,744

+  979,606

 5,372,741

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,625,357

+    8,512

+  879,395

 4,626,844

Notes and bonds, inflation-indexed2

   357,551

+    1,576

+   76,435

   357,551

Inflation compensation3

    62,159

+      656

+   23,775

    62,303

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,438,068

+        1

+  488,521

 2,438,068

Unamortized premiums on securities held outright5

   354,003

+      112

+   25,864

   353,978

Unamortized discounts on securities held outright5

   -15,584

-      233

-   10,616

   -15,583

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    73,976

-    2,537

-    5,495

    72,968

Primary credit

       250

-       79

-    2,588

       245

Secondary credit

         0

         0

         0

         0

Seasonal credit

        25

-        3

-        9

        25

Primary Dealer Credit Facility

         0

         0

-      243

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    8,625

         0

Paycheck Protection Program Liquidity Facility

    73,701

-    2,454

+    5,969

    72,697

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,588

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

    17,117

+        1

-   27,680

    17,117

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

    30,552

+        7

-    8,283

    30,558

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,769

+        1

-    6,773

     9,771

Net portfolio holdings of TALF II LLC7

     4,511

-        2

-    6,635

     4,512

Float

      -119

+      252

+       56

      -146

Central bank liquidity swaps8

       329

-        7

-   71,740

       329

Other Federal Reserve assets9

    30,809

+    1,511

+      423

    31,759

Foreign currency denominated assets10

    21,321

+       90

-      266

    21,220

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,852

+       14

+      534

    50,852

 

 

 

 

 

Total factors supplying reserve funds

 8,405,302

+    9,953

+1,348,927

 8,406,730

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
Sep 8, 2021

Week ended
Sep 8, 2021

Change from week ended

Sep 1, 2021

Sep 9, 2020

Currency in circulation11

 2,196,250

+    6,734

+  169,252

 2,198,561

Reverse repurchase agreements12

 1,374,020

-   24,041

+1,166,112

 1,410,538

Foreign official and international accounts

   293,878

+   19,571

+   85,970

   295,309

Others

 1,080,141

-   43,613

+1,080,141

 1,115,229

Treasury cash holdings

        42

-        1

-        9

        46

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

   493,339

-   31,478

-1,305,720

   448,516

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   253,496

-   24,154

-1,357,587

   200,702

Foreign official

     6,157

-      418

-   10,595

     7,436

Other13

   233,686

-    6,906

+   62,462

   240,377

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    50,866

+    2,213

-       30

    49,188

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,154,795

-   46,573

-   44,117

 4,147,127

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,250,506

+   56,525

+1,393,043

 4,259,603

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
Sep 8, 2021

Week ended
Sep 8, 2021

Change from week ended

Sep 1, 2021

Sep 9, 2020

Securities held in custody for foreign official and international accounts

 3,470,916

-   10,726

+   72,343

 3,462,161

Marketable U.S. Treasury securities1

 3,046,418

-   10,626

+   87,921

 3,038,492

Federal agency debt and mortgage-backed securities2

   332,236

-      171

-   21,110

   332,019

Other securities3

    92,262

+       70

+    5,533

    91,650

Securities lent to dealers

    31,466

-      288

+    2,432

    26,831

Overnight facility4

    31,466

-      288

+    2,432

    26,831

U.S. Treasury securities

    31,466

-      288

+    2,432

    26,831

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, September 8, 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

       137

       133

     6,355

    66,342

         0

...

    72,968

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    52,447

   319,834

   699,105

 2,049,420

   981,498

 1,270,437

 5,372,741

Weekly changes

-   10,572

+   15,738

-    5,130

+      152

+    3,359

+    3,524

+    7,071

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

        21

     1,750

    65,566

 2,370,731

 2,438,068

Weekly changes

         0

         0

         0

+       32

+    2,827

-    2,859

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    16,057

...

...

    16,057

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,461

...

...

     1,461

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       229

       100

         0

         0

         0

         0

       329

Reverse repurchase agreements8

 1,410,538

         0

...

...

...

...

 1,410,538

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

Sep 8, 2021

Mortgage-backed securities held outright1

 2,438,068

Residential mortgage-backed securities

 2,428,443

Commercial mortgage-backed securities

     9,625

 

 

Commitments to buy mortgage-backed securities2

   147,707

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 Sep 8, 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

         0

    17,117

    17,117

MS Facilities LLC (Main Street Lending Program)

    16,050

    13,512

    17,047

    30,558

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,397

     9,771

TALF II LLC

     1,480

     1,461

     3,051

     4,512

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
Sep 8, 2021

Change since

Wednesday

Wednesday

Sep 1, 2021

Sep 9, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,214

-       12

-      255

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

 

 8,224,519

+    5,074

+1,476,886

Securities held outright1

 

 7,813,156

+    7,071

+1,467,589

U.S. Treasury securities

 

 5,372,741

+    7,071

+  979,120

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,626,844

+    6,601

+  878,882

Notes and bonds, inflation-indexed2

 

   357,551

         0

+   76,435

Inflation compensation3

 

    62,303

+      471

+   23,804

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,438,068

         0

+  488,469

Unamortized premiums on securities held outright5

 

   353,978

-       90

+   25,318

Unamortized discounts on securities held outright5

 

   -15,583

-       67

-   10,625

Repurchase agreements6

 

         0

         0

-        2

Loans7

 

    72,968

-    1,840

-    5,394

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,588

Net portfolio holdings of Corporate Credit Facilities LLC8

 

    17,117

         0

-   27,673

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

 

    30,558

+        8

-    8,341

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,771

+        2

-    6,772

Net portfolio holdings of TALF II LLC8

 

     4,512

+        1

-    6,635

Items in process of collection

(0)

        80

-       12

+        6

Bank premises

 

     1,582

-       14

-      608

Central bank liquidity swaps9

 

       329

-        7

-   71,740

Foreign currency denominated assets10

 

    21,220

-       58

-      362

Other assets11

 

    30,177

+    3,161

+      784

 

 

 

 

 

Total assets

(0)

 8,357,314

+    8,141

+1,346,700

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
Sep 8, 2021

Change since

Wednesday

Wednesday

Sep 1, 2021

Sep 9, 2020

Liabilities

 

 

 

 

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

 

 2,148,965

+    6,117

+  167,694

Reverse repurchase agreements12

 

 1,410,538

+   34,242

+1,206,573

Deposits

(0)

 4,708,119

-   31,857

+   46,884

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,259,603

+   53,154

+1,352,749

U.S. Treasury, General Account

 

   200,702

-   96,232

-1,369,831

Foreign official

 

     7,436

+    1,960

-    9,338

Other13

(0)

   240,377

+    9,260

+   73,304

Deferred availability cash items

(0)

       226

-      488

-      110

Treasury contributions to credit facilities14

 

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

 

     9,302

+       37

-    1,413

 

 

 

 

 

Total liabilities

(0)

 8,317,428

+    8,050

+1,345,906

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,101

+       90

+      834

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,886

+       90

+      794

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, September 8, 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

     1,214

        16

        23

       115

        53

       178

       108

       230

        13

        29

        86

       144

       218

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

 8,224,519

   136,270

 4,616,766

   174,410

   311,925

   547,323

   478,160

   445,392

   106,981

    86,645

   109,590

   361,289

   849,768

Net portfolio holdings of Corporate Credit Facilities LLC2

    17,117

         0

    17,117

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,558

    30,558

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,771

         0

     9,771

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,512

         0

     4,512

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       329

        15

       110

        12

        28

        68

        15

        13

         6

         3

         4

         6

        48

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    21,220

       963

     7,133

       762

     1,835

     4,416

       960

       831

       403

       180

       230

       382

     3,125

Other assets5

    31,839

       619

    16,477

       769

     1,214

     2,385

     1,990

     1,761

       736

       434

       719

     1,502

     3,233

Interdistrict settlement account

         0

+   29,993

-  534,575

+   13,789

+   39,735

+   40,147

+   64,813

+  119,536

+   20,722

-    4,041

+   21,217

+   58,789

+  129,873

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,357,314

   198,965

 4,142,755

   190,380

   355,542

   595,704

   548,234

   568,900

   129,337

    83,523

   132,300

   423,332

   988,341

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, September 8, 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

 2,148,965

    71,014

   688,425

    63,055

   103,394

   155,441

   311,239

   125,742

    58,799

    32,912

    56,032

   196,967

   285,945

Reverse repurchase agreements6

 1,410,538

    23,571

   797,315

    29,792

    51,324

    94,517

    82,646

    76,973

    18,390

    10,914

    18,731

    62,376

   143,988

Deposits

 4,708,119

    87,862

 2,613,830

    95,732

   196,834

   336,638

   151,872

   364,012

    51,163

    39,124

    56,836

   162,578

   551,639

Depository institutions

 4,259,603

    87,836

 2,355,198

    95,730

   196,791

   335,356

   151,721

   177,616

    51,146

    38,924

    55,338

   162,334

   551,612

U.S. Treasury, General Account

   200,702

         0

   200,702

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,436

         2

     7,410

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   240,377

        24

    50,519

         0

        40

     1,274

       149

   186,395

        16

       199

     1,498

       243

        21

Earnings remittances due to the U.S. Treasury8

     2,676

        40

     1,592

        51

        93

       162

       146

       137

        30

        17

        31

       115

       261

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

     6,852

    -1,859

     4,549

       251

       308

       745

       560

       495

       210

       330

       234

       356

       674

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,317,428

   197,200

 4,129,416

   188,880

   351,953

   587,504

   546,464

   567,360

   128,592

    83,297

   131,864

   422,392

   982,507

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,101

     1,458

    11,058

     1,256

     3,002

     6,788

     1,463

     1,275

       617

       169

       363

       818

     4,835

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

 8,357,314

   198,965

 4,142,755

   190,380

   355,542

   595,704

   548,234

   568,900

   129,337

    83,523

   132,300

   423,332

   988,341

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, September 8, 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

Sep 8, 2021

Federal Reserve notes outstanding

 2,378,674

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

   229,709

Federal Reserve notes to be collateralized

 2,148,965

Collateral held against Federal Reserve notes

 2,148,965

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,132,728

Other assets pledged

         0

Memo:

 

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

 7,813,156

Less: Face value of securities under reverse repurchase agreements

 1,353,647

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

 6,459,510

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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