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FEDERAL RESERVE statistical release

 

 

For Release at

4:30 P.M. Eastern time

May 26, 2022

 

 

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to reflect the Federal Reserve's return of a portion of Treasury's equity investment in the MS Facilities LLC (Main Street Lending Program), Municipal Liquidity Facility LLC, and TALF II LLC, which occurred on May 20, 2022.  Footnote 14 in Factors Affecting Reserve Balances of Depository Institutions (table 1) and Consolidated Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

 


 

FEDERAL RESERVE statistical release

 

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks

May 26, 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
May 25, 2022

Week ended
May 25, 2022

Change from week ended

May 18, 2022

May 26, 2021

Reserve Bank credit

 8,900,779

-   18,615

+1,011,549

 8,877,666

Securities held outright1

 8,498,811

-    5,470

+1,141,135

 8,479,210

U.S. Treasury securities

 5,768,904

+    1,396

+  686,799

 5,769,417

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,975,463

         0

+  610,993

 4,975,463

Notes and bonds, inflation-indexed2

   380,862

         0

+   39,435

   380,862

Inflation compensation3

    86,535

+    1,396

+   36,371

    87,048

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,727,560

-    6,866

+  454,336

 2,707,446

Unamortized premiums on securities held outright5

   338,542

-    1,032

-   11,207

   337,746

Unamortized discounts on securities held outright5

   -24,481

-      507

-   11,054

   -24,444

Repurchase agreements6

         0

         0

-        7

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

-        7

         0

Loans

    21,304

-      227

-   62,689

    21,119

Primary credit

       971

+      125

+      345

       913

Secondary credit

         0

         0

         0

         0

Seasonal credit

         4

+        1

+        2

         2

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    20,329

-      353

-   63,036

    20,204

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

-    8,554

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   25,976

         0

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

    26,911

-    1,646

-    3,641

    26,665

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,534

-    1,126

-    5,379

     5,535

Net portfolio holdings of TALF II LLC7

     2,287

-      179

-    2,635

     2,288

Float

      -202

-       60

-       78

      -253

Central bank liquidity swaps8

       209

-       10

-      469

       209

Other Federal Reserve assets9

    31,865

-    8,357

+    2,103

    29,593

Foreign currency denominated assets10

    18,754

+      275

-    3,001

    18,809

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,107

+       14

+      528

    51,107

 

 

 

 

 

Total factors supplying reserve funds

 8,986,882

-   18,326

+1,009,076

 8,963,824

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
May 25, 2022

Week ended
May 25, 2022

Change from week ended

May 18, 2022

May 26, 2021

Currency in circulation11

 2,272,949

+      479

+  102,855

 2,275,926

Reverse repurchase agreements12

 2,259,834

+   99,052

+1,644,834

 2,258,221

Foreign official and international accounts

   263,657

-   14,277

+   39,577

   262,471

Others

 1,996,177

+  113,329

+1,605,257

 1,995,750

Treasury cash holdings

        92

+        2

+       58

        91

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

 1,078,615

-   63,955

-  208,348

 1,047,581

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   821,535

-   65,429

+    9,062

   801,714

Foreign official

     7,457

-      422

-   19,558

     7,435

Other13

   249,624

+    1,896

-  197,851

   238,433

Treasury contributions to credit facilities14

    18,414

-    2,844

-   31,864

    17,940

Other liabilities and capital15

    50,798

-      862

+      541

    49,047

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,680,702

+   31,871

+1,508,075

 5,648,806

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,306,180

-   50,197

-  498,998

 3,315,018

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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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
May 25, 2022

Week ended
May 25, 2022

Change from week ended

May 18, 2022

May 26, 2021

Securities held in custody for foreign official and international accounts

 3,424,783

+    2,003

-  110,400

 3,410,140

Marketable U.S. Treasury securities1

 3,007,194

+    1,022

-   79,818

 3,001,009

Federal agency debt and mortgage-backed securities2

   334,562

+      925

-   25,093

   326,126

Other securities3

    83,027

+       57

-    5,489

    83,005

Securities lent to dealers

    41,173

+    1,696

+    4,861

    37,338

Overnight facility4

    41,173

+    1,696

+    4,861

    37,338

U.S. Treasury securities

    41,173

+    1,696

+    4,861

    37,338

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, May 25, 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

       490

       497

         0

    20,132

         0

...

    21,119

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    74,558

   349,105

   774,087

 2,117,024

 1,028,423

 1,426,220

 5,769,417

Weekly changes

-    7,494

+    2,416

+    5,163

+      516

+      441

+      355

+    1,396

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

        45

     1,963

    61,043

 2,644,394

 2,707,446

Weekly changes

         0

         0

-        8

-       92

-    1,012

-   25,264

-   26,377

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    14,236

...

...

    14,236

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

         0

     1,141

...

...

     1,141

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       209

         0

         0

         0

         0

         0

       209

Reverse repurchase agreements8

 2,258,221

         0

...

...

...

...

 2,258,221

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 (PPPLF) and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. 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

May 25, 2022

Mortgage-backed securities held outright1

 2,707,446

Residential mortgage-backed securities

 2,698,576

Commercial mortgage-backed securities

     8,870

 

 

Commitments to buy mortgage-backed securities2

    52,510

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         4

 

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 May 25, 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)

    13,926

    12,367

    14,298

    26,665

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,628

     5,535

TALF II LLC

     1,264

     1,141

     1,147

     2,288

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 March 31, 2022.

 

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
May 25, 2022

Change since

Wednesday

Wednesday

May 18, 2022

May 26, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,268

-        7

+        9

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

 

 8,813,630

-   26,964

+1,059,782

Securities held outright1

 

 8,479,210

-   24,981

+1,145,441

U.S. Treasury securities

 

 5,769,417

+    1,396

+  682,260

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,975,463

         0

+  607,677

Notes and bonds, inflation-indexed2

 

   380,862

         0

+   38,006

Inflation compensation3

 

    87,048

+    1,396

+   36,577

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,707,446

-   26,377

+  463,181

Unamortized premiums on securities held outright5

 

   337,746

-    1,561

-   11,015

Unamortized discounts on securities held outright5

 

   -24,444

-      143

-   10,822

Repurchase agreements6

 

         0

         0

-       46

Loans7

 

    21,119

-      278

-   63,775

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

-    8,554

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   26,037

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

 

    26,665

-    1,773

-    3,894

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,535

-    1,126

-    5,344

Net portfolio holdings of TALF II LLC8

 

     2,288

-      178

-    2,635

Items in process of collection

(0)

        48

-       28

-       24

Bank premises

 

       622

         0

-    1,298

Central bank liquidity swaps9

 

       209

-       10

-      469

Foreign currency denominated assets10

 

    18,809

+      228

-    2,936

Other assets11

 

    28,971

-    1,758

+    2,141

 

 

 

 

 

Total assets

(0)

 8,914,281

-   31,617

+1,010,740

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
May 25, 2022

Change since

Wednesday

Wednesday

May 18, 2022

May 26, 2021

Liabilities

 

 

 

 

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

 

 2,226,174

+    2,880

+  102,599

Reverse repurchase agreements12

 

 2,258,221

+   16,599

+1,587,788

Deposits

(0)

 4,362,599

-   47,122

-  648,248

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,315,018

+   17,876

-  536,605

U.S. Treasury, General Account

 

   801,714

-   65,012

+   22,802

Foreign official

 

     7,435

-        1

-   19,641

Other13

(0)

   238,433

+       16

-  114,804

Deferred availability cash items

(0)

       301

+      102

+       69

Treasury contributions to credit facilities14

 

    17,940

-    3,318

-   32,338

Other liabilities and accrued dividends15

 

     7,433

-      756

-    1,234

 

 

 

 

 

Total liabilities

(0)

 8,872,668

-   31,616

+1,008,634

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,829

         0

+    2,106

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,614

         0

+    2,106

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, 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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, May 25, 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

       544

     5,271

       537

       763

     1,203

     2,247

     1,093

       461

       263

       440

     1,279

     2,136

Coin

     1,268

        21

        25

       110

        47

       190

        99

       228

        24

        46

        94

       154

       230

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

 8,813,630

   176,082

 4,511,293

   202,021

   355,094

   612,890

   575,312

   601,233

   138,245

    69,778

   137,476

   450,841

   983,365

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    26,665

    26,665

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,535

         0

     5,535

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,288

         0

     2,288

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       209

         9

        73

         8

        20

        42

         7

         8

         4

         1

         2

         5

        30

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,809

       810

     6,551

       698

     1,838

     3,771

       612

       713

       379

        95

       194

       452

     2,696

Other assets5

    29,641

       677

    14,065

       767

     1,218

     2,349

     1,966

     1,968

       725

       388

       744

     1,574

     3,200

Interdistrict settlement account

         0

-   13,817

+  324,085

-   24,242

-   73,635

-   67,013

+    5,675

-   34,021

+    1,019

-    1,910

-    9,315

-    1,792

-  105,034

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,914,281

   190,991

 4,869,185

   179,899

   285,346

   553,432

   585,917

   571,222

   140,857

    68,660

   129,636

   452,514

   886,623

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, May 25, 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

 2,226,174

    72,773

   702,310

    60,462

   103,104

   151,544

   336,681

   128,131

    69,933

    33,997

    58,780

   195,769

   312,691

Reverse repurchase agreements6

 2,258,221

    45,209

 1,157,794

    51,879

    90,177

   157,367

   147,748

   154,371

    35,466

    16,012

    35,251

   115,778

   251,168

Deposits

 4,362,599

    58,046

 2,986,642

    65,805

    87,784

   235,260

    99,356

   286,664

    34,339

    18,211

    34,933

   139,506

   316,054

Depository institutions

 3,315,018

    58,034

 2,121,955

    65,803

    87,719

   234,157

    99,088

   105,607

    34,332

    18,020

    34,866

   139,416

   316,021

U.S. Treasury, General Account

   801,714

         0

   801,714

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,435

         2

     7,409

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   238,433

        10

    55,565

         0

        61

     1,095

       267

   181,055

         6

       191

        66

        89

        27

Earnings remittances due to the U.S. Treasury8

     2,435

        47

     1,178

        59

       120

       190

       170

       155

        42

        15

        40

       127

       292

Treasury contributions to credit facilities9

    17,940

    13,891

     4,049

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     5,299

      -968

     2,956

       197

       218

       630

       631

       393

       172

       159

       199

       255

       456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,872,668

   188,998

 4,854,929

   178,402

   281,403

   544,992

   584,585

   569,714

   139,952

    68,394

   129,203

   451,434

   880,661

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,829

     1,701

    11,893

     1,245

     3,280

     7,080

     1,111

     1,251

       769

       232

       363

       916

     4,989

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

 8,914,281

   190,991

 4,869,185

   179,899

   285,346

   553,432

   585,917

   571,222

   140,857

    68,660

   129,636

   452,514

   886,623

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, May 25, 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 $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 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

May 25, 2022

Federal Reserve notes outstanding

 2,522,236

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

   296,063

Federal Reserve notes to be collateralized

 2,226,174

Collateral held against Federal Reserve notes

 2,226,174

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,209,937

Other assets pledged

         0

Memo:

 

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

 8,479,210

Less: Face value of securities under reverse repurchase agreements

 2,366,011

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

 6,113,199

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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