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Release Date: Thursday, July 7, 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

July 7, 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
Jul 6, 2022

Week ended
Jul 6, 2022

Change from week ended

Jun 29, 2022

Jul 7, 2021

Reserve Bank credit

 8,855,279

-   34,340

+  807,473

 8,856,240

Securities held outright1

 8,455,658

-   30,980

+  943,090

 8,456,027

U.S. Treasury securities

 5,743,982

-   19,747

+  553,399

 5,744,344

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,941,958

-   22,121

+  485,923

 4,941,958

Notes and bonds, inflation-indexed2

   384,342

+    1,376

+   31,456

   384,342

Inflation compensation3

    91,638

+      998

+   36,019

    92,000

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,709,329

-   11,234

+  389,692

 2,709,336

Unamortized premiums on securities held outright5

   333,291

-      969

-   18,207

   333,109

Unamortized discounts on securities held outright5

   -25,208

-       88

-   10,851

   -25,183

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    19,701

-    1,515

-   70,137

    19,403

Primary credit

     1,949

-      933

+    1,558

     1,765

Secondary credit

         0

-        1

         0

         0

Seasonal credit

         9

-        4

-       11

        10

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    17,742

-      577

-   71,685

    17,628

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Commercial Paper Funding Facility II LLC7

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   25,906

         0

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

    26,391

+       15

-    4,157

    26,401

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,542

+        2

-    5,198

     5,543

Net portfolio holdings of TALF II LLC7

     2,179

-       18

-    2,510

     2,179

Float

      -215

+       95

-       92

      -202

Central bank liquidity swaps8

       347

+      163

-      174

       347

Other Federal Reserve assets9

    37,596

-    1,041

+    1,618

    38,617

Foreign currency denominated assets10

    18,067

-      162

-    3,135

    17,833

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,191

+       14

+      595

    51,191

 

 

 

 

 

Total factors supplying reserve funds

 8,940,779

-   34,488

+  804,935

 8,941,506

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
Jul 6, 2022

Week ended
Jul 6, 2022

Change from week ended

Jun 29, 2022

Jul 7, 2021

Currency in circulation11

 2,283,569

+    4,881

+   96,803

 2,284,935

Reverse repurchase agreements12

 2,458,018

-    8,402

+1,449,767

 2,440,650

Foreign official and international accounts

   271,677

+    8,842

+   10,135

   272,624

Others

 2,186,341

-   17,244

+1,439,632

 2,168,026

Treasury cash holdings

        98

         0

+       56

       102

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

   942,387

-   90,600

-   37,254

   926,609

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   700,457

-   56,170

-   52,907

   687,943

Foreign official

     7,669

+      235

+    2,406

     8,462

Other13

   234,261

-   34,664

+   13,247

   230,204

Treasury contributions to credit facilities14

    17,940

         0

-   22,338

    17,940

Other liabilities and capital15

    48,140

-      908

-    2,157

    48,340

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,750,152

-   95,028

+1,484,877

 5,718,575

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,190,627

+   60,540

-  679,941

 3,222,930

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
Jul 6, 2022

Week ended
Jul 6, 2022

Change from week ended

Jun 29, 2022

Jul 7, 2021

Securities held in custody for foreign official and international accounts

 3,376,705

-   14,139

-  151,680

 3,365,309

Marketable U.S. Treasury securities1

 2,978,880

-   11,797

-  108,656

 2,967,655

Federal agency debt and mortgage-backed securities2

   314,998

-    2,106

-   36,763

   314,930

Other securities3

    82,827

-      236

-    6,261

    82,725

Securities lent to dealers

    45,691

+      870

+    8,122

    39,804

Overnight facility4

    45,691

+      870

+    8,122

    39,804

U.S. Treasury securities

    45,691

+      870

+    8,122

    39,804

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, July 6, 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

       871

       920

         0

    17,612

         0

...

    19,403

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    82,799

   335,728

   813,570

 2,056,844

 1,023,242

 1,432,162

 5,744,344

Weekly changes

-   10,571

+   10,705

+    2,696

-   27,174

+    3,408

+    1,348

-   19,589

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

         2

        55

     2,066

    59,594

 2,647,619

 2,709,336

Weekly changes

         0

+        1

+        9

+       82

+       57

-      142

+        8

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    13,798

...

...

    13,798

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

         0

     1,126

...

...

     1,126

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       347

         0

         0

         0

         0

         0

       347

Reverse repurchase agreements8

 2,440,650

         0

...

...

...

...

 2,440,650

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

Jul 6, 2022

Mortgage-backed securities held outright1

 2,709,336

Residential mortgage-backed securities

 2,700,572

Commercial mortgage-backed securities

     8,764

 

 

Commitments to buy mortgage-backed securities2

    48,348

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         9

 

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 Jul 6, 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)

    13,591

    11,929

    14,472

    26,401

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,635

     5,543

TALF II LLC

     1,152

     1,126

     1,053

     2,179

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
Jul 6, 2022

Change since

Wednesday

Wednesday

Jun 29, 2022

Jul 7, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,240

-        8

+        5

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

 

 8,783,356

-   22,584

+  833,762

Securities held outright1

 

 8,456,027

-   19,581

+  932,318

U.S. Treasury securities

 

 5,744,344

-   19,589

+  542,619

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,941,958

-   22,099

+  475,008

Notes and bonds, inflation-indexed2

 

   384,342

+    1,376

+   31,456

Inflation compensation3

 

    92,000

+    1,135

+   36,155

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,709,336

+        8

+  389,699

Unamortized premiums on securities held outright5

 

   333,109

-      602

-   18,323

Unamortized discounts on securities held outright5

 

   -25,183

-      101

-   10,834

Repurchase agreements6

 

         0

-        1

         0

Loans7

 

    19,403

-    2,299

-   69,399

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   25,931

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

 

    26,401

+       14

-    4,154

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,543

+        2

-    5,199

Net portfolio holdings of TALF II LLC8

 

     2,179

-       19

-    2,510

Items in process of collection

(0)

        99

+       47

-       14

Bank premises

 

       610

-       11

-    1,270

Central bank liquidity swaps9

 

       347

+      163

-      174

Foreign currency denominated assets10

 

    17,833

-      284

-    3,356

Other assets11

 

    38,007

+      979

+    2,919

 

 

 

 

 

Total assets

(0)

 8,891,851

-   21,702

+  794,078

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
Jul 6, 2022

Change since

Wednesday

Wednesday

Jun 29, 2022

Jul 7, 2021

Liabilities

 

 

 

 

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

 

 2,235,081

+    3,759

+   95,679

Reverse repurchase agreements12

 

 2,440,650

-   47,597

+1,391,318

Deposits

(0)

 4,149,540

+   23,026

-  668,539

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,222,931

+  104,317

-  633,272

U.S. Treasury, General Account

 

   687,943

-   71,902

-   36,955

Foreign official

 

     8,462

+    1,028

+    3,232

Other13

(0)

   230,204

-   10,418

-    1,544

Deferred availability cash items

(0)

       301

-      936

+       88

Treasury contributions to credit facilities14

 

    17,940

         0

-   22,338

Other liabilities and accrued dividends15

 

     6,636

+       46

-    4,229

 

 

 

 

 

Total liabilities

(0)

 8,850,147

-   21,702

+  791,977

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,919

         0

+    2,101

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,704

         0

+    2,101

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, July 6, 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

     1,240

        18

        22

       107

        48

       191

        95

       222

        25

        41

        91

       152

       227

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

 8,783,356

   175,558

 4,496,436

   201,608

   353,456

   610,851

   573,487

   599,290

   137,725

    68,615

   137,133

   449,364

   979,832

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    26,401

    26,401

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,543

         0

     5,543

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,179

         0

     2,179

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       347

        15

       121

        13

        34

        69

        11

        13

         7

         2

         4

         8

        50

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    17,833

       768

     6,212

       661

     1,743

     3,575

       580

       676

       359

        90

       184

       428

     2,556

Other assets5

    38,716

       866

    18,722

       974

     1,595

     2,979

     2,615

     2,591

       734

       472

       896

     2,049

     4,223

Interdistrict settlement account

         0

-    9,071

+  284,076

-   27,385

-   70,852

-   42,038

+    7,939

-   31,181

+    2,719

-      748

-   11,426

-    4,588

-   97,443

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,891,851

   195,098

 4,818,581

   176,516

   286,787

   576,831

   586,975

   572,704

   142,030

    68,734

   127,322

   448,693

   891,581

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, July 6, 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

 2,235,081

    75,266

   704,562

    59,992

   103,529

   152,420

   339,278

   127,083

    71,160

    33,936

    58,488

   196,416

   312,952

Reverse repurchase agreements6

 2,440,650

    48,862

 1,251,325

    56,070

    97,462

   170,080

   159,683

   166,842

    38,331

    17,305

    38,099

   125,131

   271,459

Deposits

 4,149,540

    56,196

 2,840,439

    58,723

    81,562

   245,276

    85,865

   276,721

    31,409

    17,061

    30,071

   125,684

   300,532

Depository institutions

 3,222,931

    56,184

 2,093,814

    58,722

    81,528

   244,685

    85,817

    97,938

    31,359

    16,766

    30,032

   125,577

   300,508

U.S. Treasury, General Account

   687,943

         0

   687,943

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,462

         2

     8,435

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   230,204

        10

    50,245

         0

        30

       582

        47

   178,782

        49

       296

        39

       105

        19

Earnings remittances due to the U.S. Treasury8

     1,444

         5

       736

        30

        39

         7

       162

       103

        40

        17

        27

       103

       175

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

     5,493

      -888

     2,923

       205

       224

       607

       651

       444

       185

       158

       203

       282

       501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,850,147

   193,332

 4,804,034

   175,019

   282,816

   568,390

   585,639

   571,193

   141,125

    68,477

   126,888

   447,616

   885,618

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,919

     1,474

    12,184

     1,245

     3,308

     7,081

     1,115

     1,254

       769

       222

       364

       915

     4,990

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

 8,891,851

   195,098

 4,818,581

   176,516

   286,787

   576,831

   586,975

   572,704

   142,030

    68,734

   127,322

   448,693

   891,581

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, July 6, 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

Jul 6, 2022

Federal Reserve notes outstanding

 2,534,887

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

   299,806

Federal Reserve notes to be collateralized

 2,235,081

Collateral held against Federal Reserve notes

 2,235,081

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,218,844

Other assets pledged

         0

Memo:

 

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

 8,456,027

Less: Face value of securities under reverse repurchase agreements

 2,599,107

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

 5,856,920

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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