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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

October 21, 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
Oct 20, 2021

Week ended
Oct 20, 2021

Change from week ended

Oct 13, 2021

Oct 21, 2020

Reserve Bank credit

 8,517,409

+   85,314

+1,406,544

 8,526,584

Securities held outright1

 8,038,175

+   85,449

+1,504,725

 8,048,546

U.S. Treasury securities

 5,481,186

+   25,560

+  985,582

 5,499,267

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,721,971

+   24,859

+  888,276

 4,737,972

Notes and bonds, inflation-indexed2

   367,928

+      458

+   73,510

   369,643

Inflation compensation3

    65,244

+      244

+   23,797

    65,609

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,554,642

+   59,889

+  519,143

 2,546,932

Unamortized premiums on securities held outright5

   355,806

+    1,144

+   18,078

   355,662

Unamortized discounts on securities held outright5

   -16,005

-      125

-   11,382

   -16,058

Repurchase agreements6

         0

         0

-    1,000

         0

Foreign official

         0

         0

-    1,000

         0

Others

         0

         0

         0

         0

Loans

    53,694

-    2,586

-   20,456

    52,761

Primary credit

       470

+      106

-    2,334

       606

Secondary credit

         0

         0

         0

         0

Seasonal credit

        14

-        5

+        5

        11

Primary Dealer Credit Facility

         0

         0

-      193

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    6,019

         0

Paycheck Protection Program Liquidity Facility

    53,210

-    2,686

-   11,915

    52,144

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,559

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

       515

         0

-   44,839

       515

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

    30,308

-      150

-   10,412

    30,285

Net portfolio holdings of Municipal Liquidity Facility LLC7

     9,779

+        2

-    6,770

     9,780

Net portfolio holdings of TALF II LLC7

     4,495

         0

-    7,260

     4,495

Float

      -111

+       16

+      108

      -126

Central bank liquidity swaps8

       345

+       21

-    7,106

       336

Other Federal Reserve assets9

    40,407

+    1,543

+    1,417

    40,388

Foreign currency denominated assets10

    20,703

-       79

-      898

    20,735

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

+      415

    50,810

 

 

 

 

 

Total factors supplying reserve funds

 8,605,163

+   85,249

+1,406,061

 8,614,370

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
Oct 20, 2021

Week ended
Oct 20, 2021

Change from week ended

Oct 13, 2021

Oct 21, 2020

Currency in circulation11

 2,204,098

+      521

+  162,062

 2,204,329

Reverse repurchase agreements12

 1,757,159

+   93,820

+1,567,823

 1,786,368

Foreign official and international accounts

   289,393

-    3,168

+  100,060

   292,407

Others

 1,467,766

+   96,988

+1,467,763

 1,493,961

Treasury cash holdings

        59

+        9

+       20

        60

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

   432,613

+   49,651

-1,510,198

   499,677

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

    83,386

+    5,528

-1,641,406

   117,364

Foreign official

     5,801

+      537

-   14,233

     8,768

Other13

   343,425

+   43,585

+  145,440

   373,545

Treasury contributions to credit facilities14

    26,397

         0

-   87,603

    26,397

Other liabilities and capital15

    50,122

+    1,037

-      279

    47,196

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,470,449

+  145,038

+  131,827

 4,564,027

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,134,714

-   59,789

+1,274,234

 4,050,343

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 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
Oct 20, 2021

Week ended
Oct 20, 2021

Change from week ended

Oct 13, 2021

Oct 21, 2020

Securities held in custody for foreign official and international accounts

 3,481,652

-    1,267

+   78,863

 3,474,860

Marketable U.S. Treasury securities1

 3,067,472

+    1,317

+   96,668

 3,070,387

Federal agency debt and mortgage-backed securities2

   324,261

-    1,235

-   22,165

   317,819

Other securities3

    89,918

-    1,350

+    4,359

    86,655

Securities lent to dealers

    39,799

-    1,605

+   18,201

    39,235

Overnight facility4

    39,799

-    1,605

+   18,201

    39,235

U.S. Treasury securities

    39,799

-    1,605

+   18,201

    39,235

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, October 20, 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

       348

       269

     3,284

    48,860

         0

...

    52,761

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    80,856

   304,867

   706,735

 2,108,800

 1,001,502

 1,296,509

 5,499,267

Weekly changes

+   22,906

-   14,454

+      689

+   11,998

+    6,348

+    5,857

+   33,343

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

        23

     1,757

    64,051

 2,481,101

 2,546,932

Weekly changes

         0

         0

         0

-       10

-      582

+   52,766

+   52,173

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,918

...

...

    15,918

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,373

...

...

     4,373

Loans held by TALF II LLC7

         0

         0

         0

     1,409

...

...

     1,409

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       236

       100

         0

         0

         0

         0

       336

Reverse repurchase agreements8

 1,786,368

         0

...

...

...

...

 1,786,368

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 Paycheck Protection Program Liquidity Facility and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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

Oct 20, 2021

Mortgage-backed securities held outright1

 2,546,932

Residential mortgage-backed securities

 2,537,425

Commercial mortgage-backed securities

     9,507

 

 

Commitments to buy mortgage-backed securities2

    95,663

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

        11

 

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 Oct 20, 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

       515

       515

MS Facilities LLC (Main Street Lending Program)

    15,736

    13,381

    16,904

    30,285

Municipal Liquidity Facility LLC

     4,373

     4,373

     5,407

     9,780

TALF II LLC

     1,462

     1,409

     3,087

     4,495

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.

 

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 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
Oct 20, 2021

Change since

Wednesday

Wednesday

Oct 13, 2021

Oct 21, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,205

+        5

-      277

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

 

 8,440,911

+   83,705

+1,473,124

Securities held outright1

 

 8,048,546

+   85,516

+1,489,186

U.S. Treasury securities

 

 5,499,267

+   33,343

+  989,489

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,737,972

+   30,801

+  890,580

Notes and bonds, inflation-indexed2

 

   369,643

+    2,001

+   74,882

Inflation compensation3

 

    65,609

+      542

+   24,028

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,546,932

+   52,173

+  499,697

Unamortized premiums on securities held outright5

 

   355,662

+    1,045

+   16,838

Unamortized discounts on securities held outright5

 

   -16,058

-      181

-   11,450

Repurchase agreements6

 

         0

         0

-    1,000

Loans7

 

    52,761

-    2,675

-   20,451

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,559

Net portfolio holdings of Corporate Credit Facilities LLC8

 

       515

         0

-   44,863

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

 

    30,285

-      180

-   10,608

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     9,780

+        1

-    6,770

Net portfolio holdings of TALF II LLC8

 

     4,495

         0

-    7,267

Items in process of collection

(0)

        55

-       70

+        1

Bank premises

 

     1,462

-       85

-      734

Central bank liquidity swaps9

 

       336

+        3

-    7,306

Foreign currency denominated assets10

 

    20,735

+       26

-    1,045

Other assets11

 

    38,926

+      594

+    1,982

 

 

 

 

 

Total assets

(0)

 8,564,943

+   84,001

+1,387,678

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
Oct 20, 2021

Change since

Wednesday

Wednesday

Oct 13, 2021

Oct 21, 2020

Liabilities

 

 

 

 

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

 

 2,154,780

-      453

+  160,983

Reverse repurchase agreements12

 

 1,786,368

+  128,746

+1,598,933

Deposits

(0)

 4,550,020

-   43,167

-  281,695

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,050,343

-  154,167

+1,160,213

U.S. Treasury, General Account

 

   117,364

+   44,904

-1,582,133

Foreign official

 

     8,768

+    3,504

-   12,479

Other13

(0)

   373,545

+   62,591

+  152,704

Deferred availability cash items

(0)

       181

-       59

-      192

Treasury contributions to credit facilities14

 

    26,397

         0

-   87,603

Other liabilities and accrued dividends15

 

     7,337

-    1,064

-    3,385

 

 

 

 

 

Total liabilities

(0)

 8,525,083

+   84,004

+1,387,041

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,074

-        4

+      676

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    39,859

-        4

+      636

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 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, October 20, 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

     1,205

        14

        21

       115

        47

       176

       104

       229

        17

        30

        87

       147

       218

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

 8,440,911

   140,213

 4,748,414

   177,474

   316,189

   562,891

   491,870

   458,169

   109,925

    81,979

   112,169

   371,493

   870,125

Net portfolio holdings of Corporate Credit Facilities LLC2

       515

         0

       515

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    30,285

    30,285

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     9,780

         0

     9,780

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     4,495

         0

     4,495

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       336

        15

       113

        12

        29

        70

        15

        13

         6

         3

         4

         6

        49

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,735

       941

     6,970

       745

     1,793

     4,315

       938

       812

       394

       176

       224

       374

     3,053

Other assets5

    40,443

       770

    21,452

       953

     1,539

     2,985

     2,479

     2,239

       668

       484

       844

     1,894

     4,136

Interdistrict settlement account

         0

+   32,666

-  489,857

+   17,011

+   35,883

+   21,009

+   66,618

+  116,467

+   23,657

-    2,920

+   19,805

+   55,838

+  103,823

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,564,943

   205,435

 4,307,326

   196,832

   356,232

   592,633

   564,212

   579,066

   135,143

    80,025

   133,588

   430,972

   983,479

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, October 20, 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

 2,154,780

    70,914

   689,992

    61,440

   103,341

   154,112

   315,591

   120,573

    64,140

    32,828

    55,093

   194,782

   291,974

Reverse repurchase agreements6

 1,786,368

    29,852

 1,009,755

    37,730

    64,999

   119,701

   104,667

    97,482

    23,289

    13,822

    23,722

    78,996

   182,353

Deposits

 4,550,020

    88,127

 2,579,534

    95,895

   183,653

   309,808

   141,784

   358,946

    46,755

    32,949

    54,111

   155,898

   502,560

Depository institutions

 4,050,343

    88,105

 2,272,388

    95,894

   183,378

   308,991

   141,652

   168,667

    46,748

    32,736

    53,626

   155,666

   502,493

U.S. Treasury, General Account

   117,364

         0

   117,364

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,768

         2

     8,742

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   373,545

        20

   181,040

         0

       271

       809

       131

   190,277

         6

       212

       485

       231

        61

Earnings remittances due to the U.S. Treasury8

     1,531

        13

       897

        30

        61

        99

        92

        72

        18

        10

        19

        67

       154

Treasury contributions to credit facilities9

    26,397

    16,572

     9,825

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     5,988

    -1,808

     3,980

       237

       283

       711

       612

       452

       198

       189

       222

       320

       592

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,525,083

   203,669

 4,293,983

   195,332

   352,336

   584,430

   562,747

   577,525

   134,401

    79,798

   133,167

   430,063

   977,633

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,074

     1,458

    11,062

     1,256

     3,309

     6,790

     1,158

     1,275

       613

       170

       348

       786

     4,847

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

 8,564,943

   205,435

 4,307,326

   196,832

   356,232

   592,633

   564,212

   579,066

   135,143

    80,025

   133,588

   430,972

   983,479

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, October 20, 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 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 MS Facilities LLC of $16.6 billion, 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

Oct 20, 2021

Federal Reserve notes outstanding

 2,405,174

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

   250,394

Federal Reserve notes to be collateralized

 2,154,780

Collateral held against Federal Reserve notes

 2,154,780

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,138,543

Other assets pledged

         0

Memo:

 

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

 8,048,546

Less: Face value of securities under reverse repurchase agreements

 1,748,826

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

 6,299,720

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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