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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 21, 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 20, 2022

Week ended
Jul 20, 2022

Change from week ended

Jul 13, 2022

Jul 21, 2021

Reserve Bank credit

 8,870,097

+   11,230

+  695,866

 8,863,752

Securities held outright1

 8,467,758

+   10,982

+  827,775

 8,461,636

U.S. Treasury securities

 5,734,555

-   10,538

+  497,541

 5,733,027

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,940,673

-    1,285

+  431,248

 4,940,459

Notes and bonds, inflation-indexed2

   376,094

-    8,248

+   30,178

   374,719

Inflation compensation3

    91,744

-    1,005

+   36,116

    91,806

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,730,856

+   21,520

+  330,234

 2,726,261

Unamortized premiums on securities held outright5

   332,196

-      598

-   21,103

   331,733

Unamortized discounts on securities held outright5

   -25,747

-      511

-   11,209

   -25,759

Repurchase agreements6

         0

-        1

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-        1

         0

         0

Loans

    19,575

-       53

-   67,881

    19,930

Primary credit

     2,589

+      332

+    2,111

     3,064

Secondary credit

         0

         0

         0

         0

Seasonal credit

        11

+        1

-        5

        10

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    16,975

-      386

-   69,988

    16,855

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

-   22,642

         0

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

    26,084

-      319

-    4,349

    26,038

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,544

+        1

-    4,214

     5,546

Net portfolio holdings of TALF II LLC7

     2,180

+        1

-    2,510

     2,181

Float

      -135

-        3

-       25

      -140

Central bank liquidity swaps8

       195

+       10

-      280

       195

Other Federal Reserve assets9

    42,448

+    1,721

+    2,306

    42,394

Foreign currency denominated assets10

    17,646

-       97

-    3,588

    17,753

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,219

+       14

+      604

    51,219

 

 

 

 

 

Total factors supplying reserve funds

 8,955,204

+   11,147

+  692,883

 8,948,965

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 20, 2022

Week ended
Jul 20, 2022

Change from week ended

Jul 13, 2022

Jul 21, 2021

Currency in circulation11

 2,276,828

-    5,105

+   91,625

 2,275,924

Reverse repurchase agreements12

 2,484,465

+   48,934

+1,398,272

 2,534,475

Foreign official and international accounts

   297,212

+   14,953

+   42,981

   294,271

Others

 2,187,253

+   33,980

+1,355,291

 2,240,204

Treasury cash holdings

        99

-        3

+       52

        98

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

   841,950

-   43,337

-   84,264

   837,012

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   613,878

-   38,694

-   64,225

   616,348

Foreign official

    10,155

+      171

+    4,351

    10,752

Other13

   217,918

-    4,813

-   24,389

   209,911

Treasury contributions to credit facilities14

    17,940

         0

-   22,338

    17,940

Other liabilities and capital15

    49,596

-      233

-    1,849

    48,344

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,670,879

+      258

+1,381,498

 5,713,793

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,284,324

+   10,888

-  688,616

 3,235,172

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 20, 2022

Week ended
Jul 20, 2022

Change from week ended

Jul 13, 2022

Jul 21, 2021

Securities held in custody for foreign official and international accounts

 3,352,458

-   13,438

-  174,016

 3,355,648

Marketable U.S. Treasury securities1

 2,954,064

-   14,214

-  128,444

 2,959,853

Federal agency debt and mortgage-backed securities2

   315,666

+      755

-   38,322

   312,714

Other securities3

    82,728

+       21

-    7,250

    83,081

Securities lent to dealers

    36,968

-    6,552

+    5,698

    39,408

Overnight facility4

    36,968

-    6,552

+    5,698

    39,408

U.S. Treasury securities

    36,968

-    6,552

+    5,698

    39,408

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 20, 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

     1,646

     1,444

         0

    16,840

         0

...

    19,930

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    85,856

   322,875

   816,212

 2,053,774

 1,019,129

 1,435,181

 5,733,027

Weekly changes

+    4,046

-   19,253

+    7,982

-    3,507

-    4,489

+    2,720

-   12,501

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,347

         0

     2,347

Weekly changes

         0

         0

         0

         0

+      213

-      213

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         2

        55

     2,066

    59,136

 2,665,003

 2,726,261

Weekly changes

         0

         0

         0

         0

-      458

+   17,383

+   16,924

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    13,665

...

...

    13,665

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

        66

     1,040

...

...

     1,107

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       195

         0

         0

         0

         0

         0

       195

Reverse repurchase agreements8

 2,534,475

         0

...

...

...

...

 2,534,475

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 20, 2022

Mortgage-backed securities held outright1

 2,726,261

Residential mortgage-backed securities

 2,717,517

Commercial mortgage-backed securities

     8,745

 

 

Commitments to buy mortgage-backed securities2

    27,774

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         2

 

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 20, 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)

    13,204

    11,796

    14,242

    26,038

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,638

     5,546

TALF II LLC

     1,152

     1,107

     1,074

     2,181

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 20, 2022

Change since

Wednesday

Wednesday

Jul 13, 2022

Jul 21, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,266

+       14

+       18

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

 

 8,787,540

+    3,162

+  694,164

Securities held outright1

 

 8,461,636

+    4,424

+  794,126

U.S. Treasury securities

 

 5,733,027

-   12,501

+  490,040

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,940,459

-    1,499

+  426,432

Notes and bonds, inflation-indexed2

 

   374,719

-    9,623

+   27,775

Inflation compensation3

 

    91,806

-    1,378

+   35,834

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,726,261

+   16,924

+  304,084

Unamortized premiums on securities held outright5

 

   331,733

-      854

-   21,906

Unamortized discounts on securities held outright5

 

   -25,759

-      556

-   11,138

Repurchase agreements6

 

         0

-        2

         0

Loans7

 

    19,930

+      149

-   66,918

Net portfolio holdings of Commercial Paper Funding Facility II LLC8

 

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   22,648

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

 

    26,038

-      376

-    4,401

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,546

+        2

-    4,214

Net portfolio holdings of TALF II LLC8

 

     2,181

+        1

-    2,509

Items in process of collection

(0)

        65

-        6

+       12

Bank premises

 

       609

+        2

-    1,258

Central bank liquidity swaps9

 

       195

+       10

-      280

Foreign currency denominated assets10

 

    17,753

+      106

-    3,460

Other assets11

 

    41,785

+      432

+    3,262

 

 

 

 

 

Total assets

(0)

 8,899,213

+    3,346

+  658,683

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 20, 2022

Change since

Wednesday

Wednesday

Jul 13, 2022

Jul 21, 2021

Liabilities

 

 

 

 

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

 

 2,226,065

-    3,915

+   90,308

Reverse repurchase agreements12

 

 2,534,475

+   91,635

+1,397,597

Deposits

(0)

 4,072,184

-   82,932

-  805,032

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,235,172

-   71,349

-  739,375

U.S. Treasury, General Account

 

   616,348

-    2,392

+       54

Foreign official

 

    10,752

+      677

+    4,915

Other13

(0)

   209,911

-    9,869

-   70,628

Deferred availability cash items

(0)

       206

-       30

+       44

Treasury contributions to credit facilities14

 

    17,940

         0

-   22,338

Other liabilities and accrued dividends15

 

     6,637

-    1,413

-    3,996

 

 

 

 

 

Total liabilities

(0)

 8,857,506

+    3,345

+  656,582

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,922

         0

+    2,102

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,707

         0

+    2,102

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 20, 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

     1,266

        18

        26

       108

        49

       190

       109

       224

        25

        39

        92

       154

       231

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

 8,787,540

   175,619

 4,498,588

   201,764

   353,451

   611,097

   573,774

   599,855

   137,777

    68,389

   137,010

   449,615

   980,600

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    26,038

    26,038

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,546

         0

     5,546

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,181

         0

     2,181

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       195

         8

        68

         7

        19

        39

         6

         7

         4

         1

         2

         5

        28

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    17,753

       764

     6,184

       658

     1,735

     3,559

       578

       673

       357

        89

       183

       426

     2,545

Other assets5

    42,459

       944

    20,649

     1,062

     1,756

     3,259

     2,829

     2,851

       791

       474

       955

     2,244

     4,644

Interdistrict settlement account

         0

-   12,734

+  298,493

-   28,239

-   73,007

-   25,871

+    5,444

-   44,369

-      818

-      921

-   10,496

-    1,895

-  105,586

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,899,213

   191,203

 4,837,005

   175,897

   284,766

   593,476

   584,987

   560,335

   138,598

    68,334

   128,186

   451,827

   884,598

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 20, 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

 2,226,065

    76,418

   703,463

    58,072

   102,749

   151,573

   339,835

   125,418

    71,002

    33,885

    58,304

   195,217

   310,130

Reverse repurchase agreements6

 2,534,475

    50,740

 1,299,430

    58,225

   101,209

   176,619

   165,822

   173,256

    39,805

    17,971

    39,563

   129,942

   281,894

Deposits

 4,072,184

    49,203

 2,812,386

    57,843

    76,510

   256,007

    77,257

   259,578

    26,663

    16,049

    29,648

   125,191

   285,848

Depository institutions

 3,235,172

    49,195

 2,138,197

    57,842

    76,474

   255,550

    77,224

    97,720

    26,656

    15,867

    29,618

   125,010

   285,819

U.S. Treasury, General Account

   616,348

         0

   616,348

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

    10,752

         2

    10,726

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   209,911

         6

    47,115

         0

        31

       449

        32

   161,857

         6

       181

        30

       180

        24

Earnings remittances due to the U.S. Treasury8

     1,921

        45

       813

        52

        98

       170

       160

       128

        47

        17

        32

       112

       247

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

     4,921

      -861

     2,318

       209

       230

       667

       577

       444

       175

       156

       204

       286

       515

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,857,506

   189,436

 4,822,459

   174,401

   280,795

   585,035

   583,651

   558,824

   137,693

    68,078

   127,752

   450,747

   878,635

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,922

     1,474

    12,184

     1,245

     3,308

     7,081

     1,115

     1,254

       769

       222

       364

       917

     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

 8,899,213

   191,203

 4,837,005

   175,897

   284,766

   593,476

   584,987

   560,335

   138,598

    68,334

   128,186

   451,827

   884,598

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 20, 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 20, 2022

Federal Reserve notes outstanding

 2,540,701

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

   314,636

Federal Reserve notes to be collateralized

 2,226,065

Collateral held against Federal Reserve notes

 2,226,065

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,209,828

Other assets pledged

         0

Memo:

 

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

 8,461,636

Less: Face value of securities under reverse repurchase agreements

 2,635,729

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

 5,825,907

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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