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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

December 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
Dec 15, 2021

Week ended
Dec 15, 2021

Change from week ended

Dec 8, 2021

Dec 16, 2020

Reserve Bank credit

 8,675,103

+   53,447

+1,423,000

 8,718,713

Securities held outright1

 8,224,911

+   51,432

+1,543,600

 8,268,766

U.S. Treasury securities

 5,625,533

+   25,315

+  982,401

 5,638,289

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,848,860

+   22,980

+  883,634

 4,861,307

Notes and bonds, inflation-indexed2

   380,800

+    1,401

+   72,374

   380,800

Inflation compensation3

    69,829

+      934

+   26,393

    70,138

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,597,031

+   26,117

+  561,199

 2,628,130

Unamortized premiums on securities held outright5

   354,324

+      406

+   12,139

   354,613

Unamortized discounts on securities held outright5

   -17,781

-      280

-   12,505

   -17,979

Repurchase agreements6

         1

+        1

-      999

         0

Foreign official

         0

         0

-    1,000

         0

Others

         1

+        1

+        1

         0

Loans

    38,929

-    1,294

-   19,771

    38,290

Primary credit

       415

+      114

-    1,351

       469

Secondary credit

         1

+        1

+        1

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-      264

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    4,449

         0

Paycheck Protection Program Liquidity Facility

    38,513

-    1,408

-   13,709

    37,821

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,557

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         1

-        1

-   46,201

         0

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

    29,564

-       22

-   16,464

    29,393

Net portfolio holdings of Municipal Liquidity Facility LLC7

     7,956

+        1

-    9,104

     7,958

Net portfolio holdings of TALF II LLC7

     2,626

         0

-    9,837

     2,626

Float

      -107

+       21

+       79

       -99

Central bank liquidity swaps8

       278

+        6

-   10,089

       278

Other Federal Reserve assets9

    34,400

+    3,174

+      709

    34,866

Foreign currency denominated assets10

    20,404

-       43

-    1,713

    20,346

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,900

+       14

+      455

    50,900

 

 

 

 

 

Total factors supplying reserve funds

 8,762,648

+   53,417

+1,421,743

 8,806,201

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
Dec 15, 2021

Week ended
Dec 15, 2021

Change from week ended

Dec 8, 2021

Dec 16, 2020

Currency in circulation11

 2,219,891

-      691

+  153,494

 2,221,378

Reverse repurchase agreements12

 1,856,124

+   82,205

+1,664,488

 1,927,879

Foreign official and international accounts

   309,435

+    7,259

+  117,817

   306,782

Others

 1,546,689

+   74,946

+1,546,671

 1,621,097

Treasury cash holdings

        69

         0

+       31

        69

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

   361,318

-    6,464

-1,385,099

   312,386

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   104,798

-   10,319

-1,424,900

    58,294

Foreign official

     7,703

+      799

-   14,120

     5,189

Other13

   248,817

+    3,056

+   53,922

   248,903

Treasury contributions to credit facilities14

    21,258

         0

-   92,742

    21,258

Other liabilities and capital15

    52,558

+    2,743

-    1,619

    49,596

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,511,218

+   77,793

+  338,552

 4,532,567

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 4,251,431

-   24,375

+1,083,191

 4,273,634

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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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
Dec 15, 2021

Week ended
Dec 15, 2021

Change from week ended

Dec 8, 2021

Dec 16, 2020

Securities held in custody for foreign official and international accounts

 3,437,900

-    7,819

-   63,664

 3,446,667

Marketable U.S. Treasury securities1

 3,032,881

-    7,413

-   19,452

 3,042,425

Federal agency debt and mortgage-backed securities2

   323,170

-       57

-   39,076

   322,910

Other securities3

    81,849

-      350

-    5,136

    81,332

Securities lent to dealers

    41,306

+    6,054

+   16,188

    34,246

Overnight facility4

    41,306

+    6,054

+   16,188

    34,246

U.S. Treasury securities

    41,306

+    6,054

+   16,188

    34,246

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, December 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

       232

       236

     2,004

    35,818

         0

...

    38,290

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    42,681

   365,204

   716,085

 2,151,240

 1,018,090

 1,344,988

 5,638,289

Weekly changes

-    6,536

+    9,365

-      224

+   16,691

+    8,393

+    6,430

+   34,120

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

         1

        29

     1,884

    61,175

 2,565,041

 2,628,130

Weekly changes

         0

         0

         0

-       11

-      560

+   57,783

+   57,212

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,851

...

...

    15,851

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     4,228

...

...

     4,228

Loans held by TALF II LLC7

         0

         0

         0

     1,360

...

...

     1,360

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       228

        50

         0

         0

         0

         0

       278

Reverse repurchase agreements8

 1,927,879

         0

...

...

...

...

 1,927,879

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

Dec 15, 2021

Mortgage-backed securities held outright1

 2,628,130

Residential mortgage-backed securities

 2,618,843

Commercial mortgage-backed securities

     9,287

 

 

Commitments to buy mortgage-backed securities2

    94,403

Commitments to sell mortgage-backed securities2

        88

 

 

Cash and cash equivalents3

       329

 

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 Dec 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

         0

         0

MS Facilities LLC (Main Street Lending Program)

    15,478

    13,521

    15,872

    29,393

Municipal Liquidity Facility LLC

     4,228

     4,228

     3,730

     7,958

TALF II LLC

     1,431

     1,360

     1,267

     2,626

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 September 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
Dec 15, 2021

Change since

Wednesday

Wednesday

Dec 8, 2021

Dec 16, 2020

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,195

+        8

-      365

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

 

 8,643,690

+   89,942

+1,501,260

Securities held outright1

 

 8,268,766

+   91,331

+1,524,485

U.S. Treasury securities

 

 5,638,289

+   34,120

+  975,448

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,861,307

+   33,277

+  876,385

Notes and bonds, inflation-indexed2

 

   380,800

         0

+   72,374

Inflation compensation3

 

    70,138

+      842

+   26,690

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,628,130

+   57,212

+  549,037

Unamortized premiums on securities held outright5

 

   354,613

+      491

+   10,792

Unamortized discounts on securities held outright5

 

   -17,979

-      485

-   12,497

Repurchase agreements6

 

         0

-        1

-    1,000

Loans7

 

    38,290

-    1,395

-   20,519

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,557

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

-        2

-   46,286

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

 

    29,393

-      199

-   18,122

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     7,958

+        2

-   13,309

Net portfolio holdings of TALF II LLC8

 

     2,626

         0

-    9,838

Items in process of collection

(0)

        75

-        7

-        3

Bank premises

 

     1,387

+        4

-      814

Central bank liquidity swaps9

 

       278

+        6

-    9,770

Foreign currency denominated assets10

 

    20,346

-       79

-    1,843

Other assets11

 

    33,479

+    2,464

+    1,718

 

 

 

 

 

Total assets

(0)

 8,756,666

+   92,142

+1,394,074

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
Dec 15, 2021

Change since

Wednesday

Wednesday

Dec 8, 2021

Dec 16, 2020

Liabilities

 

 

 

 

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

 

 2,171,739

+    1,011

+  152,590

Reverse repurchase agreements12

 

 1,927,879

+  140,652

+1,737,019

Deposits

(0)

 4,586,020

-   49,119

-  396,632

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 4,273,634

+   18,034

+1,104,808

U.S. Treasury, General Account

 

    58,294

-   66,850

-1,557,579

Foreign official

 

     5,189

-    2,448

-   16,636

Other13

(0)

   248,903

+    2,144

+   72,775

Deferred availability cash items

(0)

       174

+        5

-       10

Treasury contributions to credit facilities14

 

    21,258

         0

-   92,742

Other liabilities and accrued dividends15

 

     8,931

-      415

-    7,577

 

 

 

 

 

Total liabilities

(0)

 8,716,001

+   92,133

+1,392,648

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,880

+        8

+    1,466

Surplus

 

     6,785

         0

-       40

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    40,665

+        8

+    1,426

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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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, December 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

     1,195

        12

        19

       114

        46

       176

       104

       224

        17

        32

        87

       145

       220

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

 8,643,690

   143,864

 4,869,787

   181,855

   320,053

   577,237

   504,419

   469,709

   112,630

    79,537

   114,797

   380,850

   888,950

Net portfolio holdings of Corporate Credit Facilities LLC2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    29,393

    29,393

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     7,958

         0

     7,958

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,626

         0

     2,626

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       278

        13

        93

        10

        24

        58

        13

        11

         5

         2

         3

         5

        41

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,346

       923

     6,839

       731

     1,759

     4,234

       920

       797

       387

       173

       220

       367

     2,996

Other assets5

    34,942

       679

    18,350

       840

     1,331

     2,626

     2,175

     1,942

       577

       430

       761

     1,653

     3,578

Interdistrict settlement account

         0

+   46,926

-  613,252

+    3,594

+   51,392

+   78,983

+   86,650

+  111,076

+   28,124

+    2,761

+   25,238

+   65,458

+  113,048

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,756,666

   222,343

 4,297,843

   187,666

   375,358

   664,501

   596,469

   584,895

   142,215

    83,208

   141,561

   449,698

 1,010,908

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, December 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

 2,171,739

    72,512

   693,197

    61,873

   103,224

   153,968

   324,254

   120,901

    64,544

    32,806

    55,543

   192,500

   296,417

Reverse repurchase agreements6

 1,927,879

    32,216

 1,089,745

    40,718

    70,148

   129,183

   112,959

   105,205

    25,134

    14,917

    25,601

    85,254

   196,798

Deposits

 4,586,020

   101,686

 2,489,795

    83,273

   197,680

   372,192

   157,052

   356,615

    51,505

    35,056

    59,751

   170,531

   510,883

Depository institutions

 4,273,634

   101,670

 2,375,912

    83,271

   197,614

   371,785

   156,912

   160,619

    51,493

    34,951

    58,355

   170,240

   510,811

U.S. Treasury, General Account

    58,294

         0

    58,294

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     5,189

         2

     5,163

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   248,903

        14

    50,427

         0

        62

       399

       138

   195,995

        11

       105

     1,396

       290

        66

Earnings remittances due to the U.S. Treasury8

     2,722

        38

     1,634

        48

        95

       172

       156

       132

        19

        10

        22

       121

       274

Treasury contributions to credit facilities9

    21,258

    15,674

     5,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     6,383

    -1,551

     3,811

       254

       313

       780

       634

       494

       201

       191

       222

       356

       680

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,716,001

   220,576

 4,283,766

   186,165

   371,460

   656,296

   595,055

   583,346

   141,404

    82,980

   141,138

   448,762

 1,005,052

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,880

     1,459

    11,797

     1,257

     3,311

     6,793

     1,107

     1,283

       682

       170

       350

       814

     4,856

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

 8,756,666

   222,343

 4,297,843

   187,666

   375,358

   664,501

   596,469

   584,895

   142,215

    83,208

   141,561

   449,698

 1,010,908

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, December 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 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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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

Dec 15, 2021

Federal Reserve notes outstanding

 2,436,477

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

   264,739

Federal Reserve notes to be collateralized

 2,171,739

Collateral held against Federal Reserve notes

 2,171,739

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,155,502

Other assets pledged

         0

Memo:

 

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

 8,268,766

Less: Face value of securities under reverse repurchase agreements

 1,866,775

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

 6,401,990

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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