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FEDERAL RESERVE statistical release

 

 

For Release at

4:30 P.M. Eastern time

August 4, 2022

 

 

In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending Program) reflects the quarterly update to the allowance for loan losses.  The allowance for loan losses was estimated based upon the Main Street Lending Program holdings as of June 30, 2022.

 


 

FEDERAL RESERVE statistical release

 

H.4.1

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

August 4, 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
Aug 3, 2022

Week ended
Aug 3, 2022

Change from week ended

Jul 27, 2022

Aug 4, 2021

Reserve Bank credit

 8,847,741

-   18,258

+  659,077

 8,838,997

Securities held outright1

 8,447,773

-   16,560

+  790,576

 8,439,018

U.S. Treasury securities

 5,727,943

-    5,814

+  457,879

 5,719,119

Bills2

   326,044

         0

         0

   326,044

Notes and bonds, nominal2

 4,933,455

-    7,004

+  396,108

 4,924,116

Notes and bonds, inflation-indexed2

   374,719

         0

+   25,434

   374,719

Inflation compensation3

    93,725

+    1,190

+   36,337

    94,240

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,717,483

-   10,746

+  332,698

 2,717,552

Unamortized premiums on securities held outright5

   330,302

-      877

-   22,356

   330,094

Unamortized discounts on securities held outright5

   -25,935

-       44

-   11,260

   -25,938

Repurchase agreements6

         1

+        1

+        1

         0

Foreign official

         0

         0

         0

         0

Others

         1

+        1

+        1

         0

Loans

    19,029

-      671

-   65,602

    18,862

Primary credit

     2,806

-      259

+    2,469

     2,731

Secondary credit

         0

         0

-        1

         0

Seasonal credit

        17

+        6

+        3

        24

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    16,205

-      418

-   68,074

    16,107

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-   22,657

         0

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

    26,119

+       79

-    4,426

    26,138

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,548

+        2

-    4,214

     5,549

Net portfolio holdings of TALF II LLC7

     2,160

-       21

-    2,378

     2,157

Float

      -467

-      281

-      143

      -171

Central bank liquidity swaps8

       213

+        7

-      265

       213

Other Federal Reserve assets9

    42,999

+      108

+    1,802

    43,076

Foreign currency denominated assets10

    18,003

+      211

-    3,358

    17,877

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,216

+       14

+      582

    51,216

 

 

 

 

 

Total factors supplying reserve funds

 8,933,201

-   18,032

+  656,301

 8,924,330

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
Aug 3, 2022

Week ended
Aug 3, 2022

Change from week ended

Jul 27, 2022

Aug 4, 2021

Currency in circulation11

 2,274,415

-       37

+   87,429

 2,275,786

Reverse repurchase agreements12

 2,516,245

+    9,355

+1,256,151

 2,447,840

Foreign official and international accounts

   281,871

-    6,523

+    2,917

   265,602

Others

 2,234,374

+   15,879

+1,253,234

 2,182,238

Treasury cash holdings

       104

+        5

+       56

       101

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

   816,656

-   28,100

+   82,544

   791,735

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   594,115

-    8,830

+  101,447

   566,577

Foreign official

     8,604

-      562

+    2,493

     9,695

Other13

   213,937

-   18,707

-   21,396

   215,464

Treasury contributions to credit facilities14

    17,940

         0

-   22,338

    17,940

Other liabilities and capital15

    48,829

-    1,393

-      975

    48,412

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,674,189

-   20,170

+1,402,867

 5,581,813

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,259,011

+    2,136

-  746,567

 3,342,517

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
Aug 3, 2022

Week ended
Aug 3, 2022

Change from week ended

Jul 27, 2022

Aug 4, 2021

Securities held in custody for foreign official and international accounts

 3,366,928

+    8,079

-  140,877

 3,368,215

Marketable U.S. Treasury securities1

 2,970,342

+   12,183

-  103,163

 2,971,419

Federal agency debt and mortgage-backed securities2

   313,424

-    4,068

-   30,595

   313,432

Other securities3

    83,162

-       37

-    7,120

    83,365

Securities lent to dealers

    40,078

+    4,399

+   11,403

    46,391

Overnight facility4

    40,078

+    4,399

+   11,403

    46,391

U.S. Treasury securities

    40,078

+    4,399

+   11,403

    46,391

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, August 3, 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

     1,016

     1,752

         0

    16,095

         0

...

    18,862

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

   140,902

   269,234

   815,460

 2,038,765

 1,017,734

 1,437,025

 5,719,119

Weekly changes

+   53,077

-   51,894

-      583

-   15,458

-    1,749

+    1,546

-   15,061

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

         0

     2,347

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         2

        57

     2,414

    57,790

 2,657,289

 2,717,552

Weekly changes

         0

+        1

+       10

+      422

-      433

+      173

+      173

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    13,570

...

...

    13,570

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

        64

     1,026

...

...

     1,090

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       213

         0

         0

         0

         0

         0

       213

Reverse repurchase agreements8

 2,447,840

         0

...

...

...

...

 2,447,840

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

Aug 3, 2022

Mortgage-backed securities held outright1

 2,717,552

Residential mortgage-backed securities

 2,708,828

Commercial mortgage-backed securities

     8,724

 

 

Commitments to buy mortgage-backed securities2

    23,084

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         1

 

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 Aug 3, 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

    11,771

    14,367

    26,138

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,642

     5,549

TALF II LLC

     1,126

     1,090

     1,067

     2,157

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 June 30, 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
Aug 3, 2022

Change since

Wednesday

Wednesday

Jul 27, 2022

Aug 4, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,283

+        7

+       30

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

 

 8,762,037

-   16,867

+  675,296

Securities held outright1

 

 8,439,018

-   14,889

+  774,251

U.S. Treasury securities

 

 5,719,119

-   15,061

+  441,484

Bills2

 

   326,044

         0

         0

Notes and bonds, nominal2

 

 4,924,116

-   16,343

+  380,482

Notes and bonds, inflation-indexed2

 

   374,719

         0

+   24,577

Inflation compensation3

 

    94,240

+    1,281

+   36,425

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,717,552

+      173

+  332,767

Unamortized premiums on securities held outright5

 

   330,094

-      575

-   22,694

Unamortized discounts on securities held outright5

 

   -25,938

-       87

-   11,200

Repurchase agreements6

 

         0

-        1

         0

Loans7

 

    18,862

-    1,316

-   65,063

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-   22,659

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

 

    26,138

+       85

-    4,429

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,549

+        2

-    4,214

Net portfolio holdings of TALF II LLC8

 

     2,157

-       25

-    2,356

Items in process of collection

(0)

        53

-        5

-       55

Bank premises

 

       600

-       16

-    1,077

Central bank liquidity swaps9

 

       213

+        7

-      265

Foreign currency denominated assets10

 

    17,877

+      201

-    3,440

Other assets11

 

    42,478

+    1,229

+    2,718

 

 

 

 

 

Total assets

(0)

 8,874,620

-   15,384

+  639,547

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
Aug 3, 2022

Change since

Wednesday

Wednesday

Jul 27, 2022

Aug 4, 2021

Liabilities

 

 

 

 

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

 

 2,225,950

+      977

+   86,833

Reverse repurchase agreements12

 

 2,447,840

-   36,413

+1,231,483

Deposits

(0)

 4,134,254

+   20,959

-  654,611

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,342,519

+   66,910

-  703,374

U.S. Treasury, General Account

 

   566,577

-   48,938

+   60,706

Foreign official

 

     9,695

+       94

+    2,519

Other13

(0)

   215,464

+    2,894

-   14,461

Deferred availability cash items

(0)

       224

-      409

+       20

Treasury contributions to credit facilities14

 

    17,940

         0

-   22,338

Other liabilities and accrued dividends15

 

     6,701

-      500

-    3,854

 

 

 

 

 

Total liabilities

(0)

 8,832,909

-   15,386

+  637,533

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,926

+        2

+    2,014

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,711

+        2

+    2,014

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, August 3, 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

     1,283

        20

        24

       110

        52

       192

       106

       231

        27

        37

        94

       161

       229

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

 8,762,037

   175,127

 4,486,090

   201,192

   352,321

   609,377

   572,156

   598,048

   137,374

    67,877

   136,629

   448,274

   977,571

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    26,138

    26,138

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,549

         0

     5,549

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     2,157

         0

     2,157

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       213

         9

        74

         8

        21

        43

         7

         8

         4

         1

         2

         5

        30

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    17,877

       770

     6,228

       663

     1,747

     3,584

       582

       678

       360

        90

       184

       429

     2,562

Other assets5

    43,131

       955

    20,969

     1,075

     1,782

     3,294

     2,858

     2,894

       827

       506

       977

     2,278

     4,716

Interdistrict settlement account

         0

-   12,513

+  302,254

-   29,659

-   75,743

-   16,325

+    8,064

-   51,493

-    2,880

-    1,118

-   11,415

-    8,467

-  100,706

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,874,620

   191,049

 4,828,617

   173,926

   280,943

   601,369

   586,019

   551,459

   136,173

    67,656

   126,911

   443,959

   886,538

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, August 3, 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

 2,225,950

    76,268

   704,228

    57,613

   102,310

   151,148

   342,621

   125,502

    70,591

    33,860

    57,642

   193,904

   310,263

Reverse repurchase agreements6

 2,447,840

    49,006

 1,255,011

    56,235

    97,749

   170,581

   160,154

   167,334

    38,444

    17,356

    38,211

   125,500

   272,258

Deposits

 4,134,254

    50,828

 2,847,634

    58,327

    76,577

   270,404

    81,152

   256,550

    25,995

    16,007

    30,387

   123,089

   297,304

Depository institutions

 3,342,519

    50,819

 2,219,015

    58,325

    76,485

   270,045

    81,119

    94,733

    25,985

    15,925

    30,317

   122,474

   297,278

U.S. Treasury, General Account

   566,577

         0

   566,577

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,695

         2

     9,668

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   215,464

         8

    52,374

         0

        88

       351

        31

   161,816

         9

        82

        70

       614

        21

Earnings remittances due to the U.S. Treasury8

     1,446

        45

       505

        43

        93

       112

       165

        82

        49

        18

        32

        94

       209

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

     5,479

      -756

     2,642

       212

       243

       682

       589

       480

       189

       158

       205

       292

       541

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,832,909

   189,281

 4,814,070

   172,430

   276,972

   592,927

   584,680

   549,948

   135,268

    67,399

   126,477

   442,880

   880,576

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,926

     1,476

    12,184

     1,245

     3,308

     7,081

     1,118

     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

 8,874,620

   191,049

 4,828,617

   173,926

   280,943

   601,369

   586,019

   551,459

   136,173

    67,656

   126,911

   443,959

   886,538

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, August 3, 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 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 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

Aug 3, 2022

Federal Reserve notes outstanding

 2,547,747

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

   321,797

Federal Reserve notes to be collateralized

 2,225,950

Collateral held against Federal Reserve notes

 2,225,950

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,209,713

Other assets pledged

         0

Memo:

 

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

 8,439,018

Less: Face value of securities under reverse repurchase agreements

 2,515,217

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

 5,923,802

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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