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Release Date: Thursday, February 17, 2022
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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

February 17, 2022

 

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
Feb 16, 2022

Week ended
Feb 16, 2022

Change from week ended

Feb 9, 2022

Feb 17, 2021

Reserve Bank credit

 8,858,545

+   20,847

+1,346,131

 8,872,950

Securities held outright1

 8,417,836

+   24,677

+1,436,997

 8,445,579

U.S. Treasury securities

 5,735,288

+    5,326

+  923,144

 5,738,619

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,949,625

+    4,973

+  827,270

 4,952,826

Notes and bonds, inflation-indexed2

   385,089

         0

+   64,667

   385,089

Inflation compensation3

    74,529

+      352

+   31,207

    74,659

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,680,201

+   19,351

+  513,853

 2,704,613

Unamortized premiums on securities held outright5

   350,628

-      595

+    1,270

   350,324

Unamortized discounts on securities held outright5

   -19,518

-      324

-   12,986

   -20,185

Repurchase agreements6

         0

         0

-      714

         0

Foreign official

         0

         0

-      714

         0

Others

         0

         0

         0

         0

Loans

    28,626

-      322

-   24,405

    28,706

Primary credit

       758

+      432

-    1,009

     1,112

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Primary Dealer Credit Facility

         0

         0

-      265

         0

Money Market Mutual Fund Liquidity Facility

         0

         0

-    1,729

         0

Paycheck Protection Program Liquidity Facility

    27,868

-      754

-   21,402

    27,594

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

         0

         0

-   26,269

         0

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

    29,177

-       73

-    4,093

    28,980

Net portfolio holdings of Municipal Liquidity Facility LLC7

     7,097

-      441

-    4,439

     7,098

Net portfolio holdings of TALF II LLC7

     2,542

         0

-    3,863

     2,542

Float

      -139

-       23

-       69

      -167

Central bank liquidity swaps8

       214

+        7

-    7,951

       214

Other Federal Reserve assets9

    42,082

-    2,058

+    1,210

    29,858

Foreign currency denominated assets10

    20,344

-       88

-    1,633

    20,356

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    50,986

+       14

+      496

    50,986

 

 

 

 

 

Total factors supplying reserve funds

 8,946,115

+   20,773

+1,344,993

 8,960,532

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
Feb 16, 2022

Week ended
Feb 16, 2022

Change from week ended

Feb 9, 2022

Feb 17, 2021

Currency in circulation11

 2,232,103

+    1,747

+  130,078

 2,234,394

Reverse repurchase agreements12

 1,897,602

-   16,395

+1,692,539

 1,901,462

Foreign official and international accounts

   260,390

+      217

+   55,350

   257,328

Others

 1,637,212

-   16,612

+1,637,188

 1,644,134

Treasury cash holdings

        31

+        6

-       41

        34

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

   947,435

+    9,140

-  862,591

   960,654

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   692,541

+    6,157

-  874,500

   709,261

Foreign official

     5,790

+      572

-   16,512

     7,251

Other13

   249,104

+    2,410

+   28,421

   244,141

Treasury contributions to credit facilities14

    21,258

         0

-   30,520

    21,258

Other liabilities and capital15

    47,712

-    1,787

-    5,538

    46,010

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,146,142

-    7,289

+  923,927

 5,163,812

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,799,973

+   28,062

+  421,066

 3,796,720

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
Feb 16, 2022

Week ended
Feb 16, 2022

Change from week ended

Feb 9, 2022

Feb 17, 2021

Securities held in custody for foreign official and international accounts

 3,447,889

-   17,870

-  101,845

 3,449,672

Marketable U.S. Treasury securities1

 3,041,368

-   18,779

-   58,514

 3,043,010

Federal agency debt and mortgage-backed securities2

   323,600

+      533

-   36,749

   324,071

Other securities3

    82,921

+      376

-    6,582

    82,591

Securities lent to dealers

    39,612

+    2,843

+   12,797

    42,884

Overnight facility4

    39,612

+    2,843

+   12,797

    42,884

U.S. Treasury securities

    39,612

+    2,843

+   12,797

    42,884

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, February 16, 2022

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

       532

     1,217

       237

    26,721

         0

...

    28,706

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    86,572

   324,187

   735,457

 2,191,349

   991,620

 1,409,433

 5,738,619

Weekly changes

-   32,969

+   38,539

-    2,531

-   12,186

-   20,484

+   36,386

+    6,755

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

        37

     2,094

    66,430

 2,636,051

 2,704,613

Weekly changes

         0

         0

         0

-       12

-      570

+   44,345

+   43,762

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    15,110

...

...

    15,110

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

       451

         0

         0

     2,907

...

...

     3,358

Loans held by TALF II LLC7

         0

         0

         0

     1,286

...

...

     1,286

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       214

         0

         0

         0

         0

         0

       214

Reverse repurchase agreements8

 1,901,462

         0

...

...

...

...

 1,901,462

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

Feb 16, 2022

Mortgage-backed securities held outright1

 2,704,613

Residential mortgage-backed securities

 2,695,537

Commercial mortgage-backed securities

     9,077

 

 

Commitments to buy mortgage-backed securities2

    70,202

Commitments to sell mortgage-backed securities2

     1,000

 

 

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 Feb 16, 2022

 

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

MS Facilities LLC (Main Street Lending Program)

    14,727

    13,087

    15,893

    28,980

Municipal Liquidity Facility LLC

     3,358

     3,358

     3,740

     7,098

TALF II LLC

     1,345

     1,286

     1,256

     2,542

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

 

    updated as of December 31, 2021.

 

b. 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.

 

c. 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
Feb 16, 2022

Change since

Wednesday

Wednesday

Feb 9, 2022

Feb 17, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,271

+       19

-      291

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

 

 8,804,425

+   48,862

+1,409,942

Securities held outright1

 

 8,445,579

+   50,518

+1,448,613

U.S. Treasury securities

 

 5,738,619

+    6,755

+  914,562

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,952,826

+    6,402

+  818,583

Notes and bonds, inflation-indexed2

 

   385,089

         0

+   64,667

Inflation compensation3

 

    74,659

+      353

+   31,311

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,704,613

+   43,762

+  534,051

Unamortized premiums on securities held outright5

 

   350,324

-      838

+      599

Unamortized discounts on securities held outright5

 

   -20,185

-      993

-   13,457

Repurchase agreements6

 

         0

         0

-      500

Loans7

 

    28,706

+      174

-   25,313

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,556

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   26,240

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

 

    28,980

-      278

-    4,285

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     7,098

+        1

-    4,440

Net portfolio holdings of TALF II LLC8

 

     2,542

         0

-    3,863

Items in process of collection

(0)

        53

-       38

-       16

Bank premises

 

     1,387

+        5

-      657

Central bank liquidity swaps9

 

       214

+       14

-    7,951

Foreign currency denominated assets10

 

    20,356

-       56

-    1,491

Other assets11

 

    28,472

-   15,503

+    1,480

 

 

 

 

 

Total assets

(0)

 8,911,033

+   33,024

+1,353,631

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
Feb 16, 2022

Change since

Wednesday

Wednesday

Feb 9, 2022

Feb 17, 2021

Liabilities

 

 

 

 

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

 

 2,184,708

+    2,953

+  131,369

Reverse repurchase agreements12

 

 1,901,462

-    6,429

+1,699,743

Deposits

(0)

 4,757,374

+   37,404

-  443,631

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,796,720

+    1,743

+  388,849

U.S. Treasury, General Account

 

   709,261

+   30,242

-  859,632

Foreign official

 

     7,251

+    2,061

-   15,801

Other13

(0)

   244,141

+    3,357

+   42,953

Deferred availability cash items

(0)

       220

+       12

+       39

Treasury contributions to credit facilities14

 

    21,258

         0

-   30,520

Other liabilities and accrued dividends15

 

     5,549

-      841

-    4,633

 

 

 

 

 

Total liabilities

(0)

 8,870,572

+   33,100

+1,352,367

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    33,676

-       76

+    1,264

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    40,461

-       76

+    1,264

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, February 16, 2022

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

     1,271

        16

        24

       115

        51

       182

       111

       231

        20

        37

        90

       160

       233

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

 8,804,425

   146,712

 4,965,144

   185,376

   324,344

   588,481

   514,198

   478,930

   114,668

    78,257

   116,909

   388,232

   903,177

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    28,980

    28,980

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     7,098

         0

     7,098

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,542

         0

     2,542

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       214

        10

        72

         8

        18

        44

        10

         8

         4

         2

         2

         4

        31

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    20,356

       924

     6,842

       731

     1,760

     4,236

       921

       798

       387

       173

       220

       367

     2,998

Other assets5

    29,912

       593

    15,594

       723

     1,158

     2,310

     1,826

     1,637

       557

       398

       713

     1,411

     2,992

Interdistrict settlement account

         0

+    4,731

-  213,436

-    7,999

-    1,892

-   15,219

+   59,170

+   79,111

+   20,079

-      187

+   16,343

+   62,755

-    3,454

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,911,033

   182,495

 4,789,302

   179,476

   326,191

   581,221

   578,423

   561,851

   136,189

    78,953

   134,733

   454,148

   908,052

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, February 16, 2022 (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

 2,184,708

    72,170

   702,088

    59,668

   102,600

   152,390

   327,311

   125,235

    64,285

    33,020

    56,109

   190,006

   299,826

Reverse repurchase agreements6

 1,901,462

    31,775

 1,074,813

    40,160

    69,187

   127,413

   111,411

   103,763

    24,790

    14,713

    25,250

    84,086

   194,101

Deposits

 4,757,374

    62,207

 2,989,999

    77,910

   150,110

   292,502

   137,676

   330,852

    46,108

    30,804

    52,751

   178,707

   407,748

Depository institutions

 3,796,720

    62,180

 2,225,369

    77,909

   150,011

   291,936

   137,501

   137,100

    46,098

    30,330

    52,175

   178,435

   407,678

U.S. Treasury, General Account

   709,261

         0

   709,261

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,251

         2

     7,225

         1

         3

         8

         2

         2

         1

         0

         0

         1

         6

Other7

   244,141

        25

    48,144

         0

        96

       558

       173

   193,751

         9

       474

       576

       272

        64

Earnings remittances due to the U.S. Treasury8

     2,509

        36

     1,464

        50

        93

       160

       153

       129

        16

        16

        19

       113

       257

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

     3,261

    -1,254

     1,353

       191

       216

       601

       557

       375

       168

       151

       186

       257

       459

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,870,572

   180,608

 4,775,300

   177,980

   322,207

   573,067

   577,109

   560,354

   135,367

    78,704

   134,315

   453,169

   902,392

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    33,676

     1,594

    11,639

     1,244

     3,321

     6,793

     1,094

     1,239

       685

       215

       348

       817

     4,687

Surplus

     6,785

       292

     2,363

       252

       663

     1,361

       221

       257

       137

        34

        70

       163

       973

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,911,033

   182,495

 4,789,302

   179,476

   326,191

   581,221

   578,423

   561,851

   136,189

    78,953

   134,733

   454,148

   908,052

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, February 16, 2022 (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

Feb 16, 2022

Federal Reserve notes outstanding

 2,467,630

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

   282,921

Federal Reserve notes to be collateralized

 2,184,708

Collateral held against Federal Reserve notes

 2,184,708

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,168,472

Other assets pledged

         0

Memo:

 

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

 8,445,579

Less: Face value of securities under reverse repurchase agreements

 1,920,240

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

 6,525,339

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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