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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 16, 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 15, 2021

Week ended
Sep 15, 2021

Change from week ended

Sep 8, 2021

Sep 16, 2020

Reserve Bank credit

 8,352,036

+   35,148

+1,360,603

 8,409,864

Securities held outright1

 7,847,759

+   36,233

+1,467,356

 7,908,375

U.S. Treasury securities

 5,384,611

+   13,500

+  981,852

 5,391,872

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,636,160

+   10,803

+  882,312

 4,643,247

Notes and bonds, inflation-indexed2

   359,552

+    2,001

+   75,692

   359,552

Inflation compensation3

    62,856

+      697

+   23,849

    63,030

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,460,801

+   22,733

+  485,503

 2,514,156

Unamortized premiums on securities held outright5

   354,522

+      519

+   24,318

   355,731

Unamortized discounts on securities held outright5

   -15,577

+        7

-   10,654

   -15,565

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    71,600

-    2,376

-    6,477

    70,174

Primary credit

       274

+       24

-    2,521

       243

Secondary credit

         0

         0

         0

         0

Seasonal credit

        25

         0

-        6

        25

Primary Dealer Credit Facility

         0

         0

-      247

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    7,653

         0

Paycheck Protection Program Liquidity Facility

    71,301

-    2,400

+    3,950

    69,906

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

    15,056

-    2,061

-   29,796

    12,308

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

    30,541

-       11

-    8,380

    30,437

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,771

+        2

-    6,772

     9,772

Net portfolio holdings of TALF II LLC7

     4,512

+        1

-    6,675

     4,512

Float

      -122

-        3

+      127

      -122

Central bank liquidity swaps8

       329

         0

-   54,490

       329

Other Federal Reserve assets9

    33,645

+    2,836

+      636

    33,912

Foreign currency denominated assets10

    21,261

-       60

-      393

    21,282

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,866

+       14

+      530

    50,866

 

 

 

 

 

Total factors supplying reserve funds

 8,440,404

+   35,102

+1,360,739

 8,498,252

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 15, 2021

Week ended
Sep 15, 2021

Change from week ended

Sep 8, 2021

Sep 16, 2020

Currency in circulation11

 2,197,512

+    1,262

+  168,434

 2,197,149

Reverse repurchase agreements12

 1,400,860

+   26,840

+1,200,674

 1,375,676

Foreign official and international accounts

   294,666

+      788

+   94,490

   294,334

Others

 1,106,194

+   26,053

+1,106,184

 1,081,342

Treasury cash holdings

        47

+        5

-        3

        55

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

   479,227

-   14,112

-1,320,157

   592,069

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   230,328

-   23,168

-1,384,527

   344,668

Foreign official

     6,621

+      464

-   10,602

     5,265

Other13

   242,278

+    8,592

+   74,971

   242,136

Treasury contributions to credit facilities14

    40,278

         0

-   73,722

    40,278

Other liabilities and capital15

    51,295

+      429

-      259

    48,347

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,169,220

+   14,425

-   25,033

 4,253,575

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,271,184

+   20,678

+1,385,772

 4,244,677

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 15, 2021

Week ended
Sep 15, 2021

Change from week ended

Sep 8, 2021

Sep 16, 2020

Securities held in custody for foreign official and international accounts

 3,470,705

-      211

+   63,997

 3,474,795

Marketable U.S. Treasury securities1

 3,046,750

+      332

+   80,502

 3,051,705

Federal agency debt and mortgage-backed securities2

   332,037

-      199

-   22,121

   331,858

Other securities3

    91,918

-      344

+    5,616

    91,232

Securities lent to dealers

    30,775

-      691

+    3,656

    27,343

Overnight facility4

    30,775

-      691

+    3,656

    27,343

U.S. Treasury securities

    30,775

-      691

+    3,656

    27,343

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 15, 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

       119

       150

     5,642

    64,264

         0

...

    70,174

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    68,069

   287,834

   712,400

 2,057,960

   990,494

 1,275,116

 5,391,872

Weekly changes

+   15,622

-   32,000

+   13,295

+    8,540

+    8,996

+    4,679

+   19,131

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

     1,741

    64,930

 2,447,463

 2,514,156

Weekly changes

         0

         0

         0

-        9

-      636

+   76,732

+   76,088

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    16,023

...

...

    16,023

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,460

...

...

     1,460

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       229

       100

         0

         0

         0

         0

       329

Reverse repurchase agreements8

 1,375,676

         0

...

...

...

...

 1,375,676

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 15, 2021

Mortgage-backed securities held outright1

 2,514,156

Residential mortgage-backed securities

 2,504,531

Commercial mortgage-backed securities

     9,625

 

 

Commitments to buy mortgage-backed securities2

    88,590

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 15, 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

         0

         0

    12,308

    12,308

MS Facilities LLC (Main Street Lending Program)

    15,920

    13,478

    16,959

    30,437

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,399

     9,772

TALF II LLC

     1,480

     1,460

     3,052

     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 15, 2021

Change since

Wednesday

Wednesday

Sep 8, 2021

Sep 16, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,209

-        5

-      258

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

 

 8,318,716

+   94,197

+1,499,420

Securities held outright1

 

 7,908,375

+   95,219

+1,493,988

U.S. Treasury securities

 

 5,391,872

+   19,131

+  984,867

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,643,247

+   16,403

+  887,552

Notes and bonds, inflation-indexed2

 

   359,552

+    2,001

+   73,634

Inflation compensation3

 

    63,030

+      727

+   23,682

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,514,156

+   76,088

+  509,121

Unamortized premiums on securities held outright5

 

   355,731

+    1,753

+   23,864

Unamortized discounts on securities held outright5

 

   -15,565

+       18

-   10,659

Repurchase agreements6

 

         0

         0

         0

Loans7

 

    70,174

-    2,794

-    7,774

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,588

Net portfolio holdings of Corporate Credit Facilities LLC8

 

    12,308

-    4,809

-   32,615

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

 

    30,437

-      121

-    8,522

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,772

+        1

-    6,772

Net portfolio holdings of TALF II LLC8

 

     4,512

         0

-    6,918

Items in process of collection

(0)

        57

-       23

-        4

Bank premises

 

     1,590

+        8

-      601

Central bank liquidity swaps9

 

       329

         0

-   51,945

Foreign currency denominated assets10

 

    21,282

+       62

-      434

Other assets11

 

    32,321

+    2,144

+    1,533

 

 

 

 

 

Total assets

(0)

 8,448,770

+   91,456

+1,384,295

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 15, 2021

Change since

Wednesday

Wednesday

Sep 8, 2021

Sep 16, 2020

Liabilities

 

 

 

 

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

 

 2,147,543

-    1,422

+  167,238

Reverse repurchase agreements12

 

 1,375,676

-   34,862

+1,177,194

Deposits

(0)

 4,836,747

+  128,628

+  113,514

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,244,677

-   14,926

+1,375,366

U.S. Treasury, General Account

 

   344,668

+  143,966

-1,348,141

Foreign official

 

     5,265

-    2,171

-   13,601

Other13

(0)

   242,136

+    1,759

+   99,889

Deferred availability cash items

(0)

       179

-       47

-       95

Treasury contributions to credit facilities14

 

    40,278

         0

-   73,722

Other liabilities and accrued dividends15

 

     8,484

-      818

-      597

 

 

 

 

 

Total liabilities

(0)

 8,408,907

+   91,479

+1,383,532

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,078

-       23

+      803

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,863

-       23

+      763

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 15, 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

     1,209

        16

        23

       114

        51

       178

       111

       229

        14

        29

        86

       142

       216

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

 8,318,716

   137,890

 4,670,937

   176,447

   314,912

   553,767

   483,831

   450,651

   108,220

    87,233

   110,769

   365,517

   858,544

Net portfolio holdings of Corporate Credit Facilities LLC2

    12,308

         0

    12,308

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,437

    30,437

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,772

         0

     9,772

         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

       111

        12

        28

        68

        15

        13

         6

         3

         4

         6

        48

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    21,282

       966

     7,153

       764

     1,840

     4,429

       963

       834

       405

       181

       230

       383

     3,134

Other assets5

    33,969

       655

    17,704

       817

     1,299

     2,536

     2,096

     1,880

       764

       420

       748

     1,598

     3,453

Interdistrict settlement account

         0

+   32,391

-  475,336

+    9,851

+   34,700

+   28,135

+   58,749

+  111,176

+   18,013

-    4,661

+   17,989

+   54,493

+  114,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,448,770

   202,900

 4,252,606

   188,527

   353,583

   590,299

   547,953

   565,918

   127,896

    83,477

   130,280

   423,360

   981,971

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 15, 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

 2,147,543

    71,103

   688,643

    62,610

   103,258

   154,948

   311,040

   124,964

    59,510

    33,115

    55,912

   196,982

   285,458

Reverse repurchase agreements6

 1,375,676

    22,989

   777,609

    29,055

    50,055

    92,181

    80,604

    75,071

    17,935

    10,644

    18,268

    60,835

   140,429

Deposits

 4,836,747

    92,284

 2,744,135

    95,055

   196,266

   333,973

   153,851

   363,711

    49,476

    39,151

    55,404

   164,158

   549,282

Depository institutions

 4,244,677

    92,258

 2,342,926

    95,054

   196,218

   333,347

   153,711

   174,615

    49,459

    38,901

    54,961

   163,973

   549,255

U.S. Treasury, General Account

   344,668

         0

   344,668

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,265

         2

     5,238

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   242,136

        24

    51,302

         0

        44

       617

       138

   189,095

        17

       250

       443

       184

        21

Earnings remittances due to the U.S. Treasury8

     2,566

        28

     1,443

        51

        99

       235

       148

       133

        21

        15

        22

       110

       260

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

     6,097

    -1,841

     3,731

       256

       315

       761

       540

       498

       208

       324

       236

       366

       703

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,408,907

   201,135

 4,239,268

   187,027

   349,993

   582,099

   546,183

   564,377

   127,151

    83,249

   129,842

   422,451

   976,132

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,078

     1,458

    11,058

     1,256

     3,004

     6,789

     1,463

     1,275

       617

       170

       364

       786

     4,839

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

 8,448,770

   202,900

 4,252,606

   188,527

   353,583

   590,299

   547,953

   565,918

   127,896

    83,477

   130,280

   423,360

   981,971

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 15, 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 15, 2021

Federal Reserve notes outstanding

 2,383,066

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

   235,523

Federal Reserve notes to be collateralized

 2,147,543

Collateral held against Federal Reserve notes

 2,147,543

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,131,306

Other assets pledged

         0

Memo:

 

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

 7,908,375

Less: Face value of securities under reverse repurchase agreements

 1,307,463

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

 6,600,912

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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