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FEDERAL RESERVE statistical release

 

 

For Release at

4:30 P.M. Eastern time

November 25, 2022

 

 

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to reflect the Federal Reserve's return of a portion of Treasury's equity investment in the MS Facilities LLC (Main Street Lending Program), Municipal Liquidity Facility LLC, and TALF II LLC, which occurred on November 18, 2022.  Footnote 14 in Factors Affecting Reserve Balances of Depository Institutions (table 1) and Consolidated Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

 


 

FEDERAL RESERVE statistical release

 

H.4.1

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

November 25, 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
Nov 23, 2022

Week ended
Nov 23, 2022

Change from week ended

Nov 16, 2022

Nov 24, 2021

Reserve Bank credit

 8,587,811

-   41,287

-   63,562

 8,585,689

Securities held outright1

 8,212,378

-   31,874

+   14,807

 8,209,753

U.S. Treasury securities

 5,535,206

-   28,643

-   41,143

 5,535,323

Bills2

   296,059

         0

-   29,985

   296,059

Notes and bonds, nominal2

 4,762,764

-   28,871

-   45,242

 4,762,764

Notes and bonds, inflation-indexed2

   375,786

         0

+      994

   375,786

Inflation compensation3

   100,598

+      229

+   33,091

   100,715

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,674,825

-    3,231

+   55,951

 2,672,083

Unamortized premiums on securities held outright5

   318,370

-      720

-   37,236

   317,952

Unamortized discounts on securities held outright5

   -27,335

-      149

-   10,029

   -27,238

Repurchase agreements6

         0

-        1

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-        1

         0

         0

Loans

    21,357

+    4,245

-   21,931

    21,697

Primary credit

     8,745

+    4,419

+    8,397

     9,140

Secondary credit

         0

         0

         0

         0

Seasonal credit

        20

         0

+       15

        19

Primary Dealer Credit Facility

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    12,593

-      173

-   30,342

    12,538

Other credit extensions

         0

         0

         0

         0

Net portfolio holdings of Corporate Credit Facilities LLC7

         0

         0

-       75

         0

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

    23,104

-    2,420

-    6,594

    22,775

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,555

-       22

-    2,397

     5,557

Net portfolio holdings of TALF II LLC7

     1,994

-      111

-      656

     1,995

Float

      -195

-       15

-       45

      -340

Central bank liquidity swaps8

       202

         0

-       66

       202

Other Federal Reserve assets9

    32,381

-   10,221

+      658

    33,337

Foreign currency denominated assets10

    17,762

+       92

-    2,580

    17,841

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,440

+       14

+      720

    51,440

 

 

 

 

 

Total factors supplying reserve funds

 8,673,254

-   41,181

-   65,422

 8,671,211

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
Nov 23, 2022

Week ended
Nov 23, 2022

Change from week ended

Nov 16, 2022

Nov 24, 2021

Currency in circulation11

 2,293,614

+      161

+   77,489

 2,296,592

Reverse repurchase agreements12

 2,480,997

-   46,025

+  626,989

 2,430,204

Foreign official and international accounts

   373,395

+   11,088

+   77,800

   361,030

Others

 2,107,601

-   57,114

+  549,187

 2,069,174

Treasury cash holdings

        97

-        3

+       35

        96

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

   684,624

-   21,488

+  250,237

   722,098

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   479,474

-   23,508

+  315,387

   492,754

Foreign official

     7,436

         0

+    1,030

     7,435

Other13

   197,714

+    2,020

-   66,180

   221,910

Treasury contributions to credit facilities14

    15,717

-    2,223

-    6,275

    15,347

Other liabilities and capital15

    37,474

-    4,057

-   11,817

    38,025

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,512,523

-   73,635

+  936,657

 5,502,362

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,160,730

+   32,453

-1,002,080

 3,168,849

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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
Nov 23, 2022

Week ended
Nov 23, 2022

Change from week ended

Nov 16, 2022

Nov 24, 2021

Securities held in custody for foreign official and international accounts

 3,310,348

+    2,088

-  164,722

 3,322,540

Marketable U.S. Treasury securities1

 2,896,264

+    2,473

-  167,113

 2,909,846

Federal agency debt and mortgage-backed securities2

   331,241

+      975

+    2,577

   330,296

Other securities3

    82,843

-    1,360

-      187

    82,398

Securities lent to dealers

    41,188

-    1,117

+    8,891

    40,402

Overnight facility4

    41,188

-    1,117

+    8,891

    40,402

U.S. Treasury securities

    41,178

-    1,125

+    8,881

    40,392

Federal agency debt securities

        10

+        8

+       10

        10

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, November 23, 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

     6,956

     2,209

         0

    12,531

         0

...

    21,697

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    83,416

   321,595

   754,177

 1,956,645

   957,046

 1,462,446

 5,535,323

Weekly changes

-    5,404

+   74,739

-   69,323

+      106

+   12,357

-   12,203

+      272

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

        53

     3,958

    51,831

 2,616,239

 2,672,083

Weekly changes

         0

         0

         0

-       88

+       64

-    4,774

-    4,798

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    12,182

...

...

    12,182

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

         0

     2,907

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

       787

       251

...

...

     1,038

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       202

         0

         0

         0

         0

         0

       202

Reverse repurchase agreements8

 2,430,204

         0

...

...

...

...

 2,430,204

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

Nov 23, 2022

Mortgage-backed securities held outright1

 2,672,083

Residential mortgage-backed securities

 2,663,540

Commercial mortgage-backed securities

     8,543

 

 

Commitments to buy mortgage-backed securities2

         0

Commitments to sell mortgage-backed securities2

        22

 

 

Cash and cash equivalents3

         0

 

1.

Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2.

Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed securities generally settle within three business days.

3.

This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.


 

 


 

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Credit Facilities LLCs:

Wednesday Nov 23, 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)

    11,606

    10,796

    11,979

    22,775

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,650

     5,557

TALF II LLC

     1,058

     1,038

       957

     1,995

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 September 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
Nov 23, 2022

Change since

Wednesday

Wednesday

Nov 16, 2022

Nov 24, 2021

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,175

-       12

-       20

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

 

 8,522,164

-    4,249

-   48,848

Securities held outright1

 

 8,209,753

-    4,526

+   18,780

U.S. Treasury securities

 

 5,535,323

+      272

-   43,577

Bills2

 

   296,059

         0

-   29,985

Notes and bonds, nominal2

 

 4,762,764

         0

-   46,468

Notes and bonds, inflation-indexed2

 

   375,786

         0

-        7

Inflation compensation3

 

   100,715

+      273

+   32,883

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,672,083

-    4,798

+   62,357

Unamortized premiums on securities held outright5

 

   317,952

-      911

-   37,134

Unamortized discounts on securities held outright5

 

   -27,238

+       18

-    9,936

Repurchase agreements6

 

         0

-       10

         0

Loans7

 

    21,697

+    1,180

-   20,558

Net portfolio holdings of Corporate Credit Facilities LLC8

 

         0

         0

-        2

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

 

    22,775

-    2,416

-    6,801

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,557

-       22

-    2,396

Net portfolio holdings of TALF II LLC8

 

     1,995

-      111

-      655

Items in process of collection

(0)

       108

-        5

-        1

Bank premises

 

       606

-        5

-      838

Central bank liquidity swaps9

 

       202

         0

-       66

Foreign currency denominated assets10

 

    17,841

-       40

-    2,330

Other assets11

 

    32,731

+    2,629

+    1,576

 

 

 

 

 

Total assets

(0)

 8,621,390

-    4,230

-   60,381

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
Nov 23, 2022

Change since

Wednesday

Wednesday

Nov 16, 2022

Nov 24, 2021

Liabilities

 

 

 

 

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

 

 2,246,419

+    3,128

+   76,513

Reverse repurchase agreements12

 

 2,430,204

-   45,887

+  671,389

Deposits

(0)

 3,890,947

+   44,468

-  792,728

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,168,849

-    7,950

-1,003,958

U.S. Treasury, General Account

 

   492,754

+   20,569

+  351,712

Foreign official

 

     7,435

-        1

-      302

Other13

(0)

   221,910

+   31,850

-  140,179

Deferred availability cash items

(0)

       448

+      179

+      140

Treasury contributions to credit facilities14

 

    15,347

-    2,593

-    5,911

Other liabilities and accrued dividends15

 

    -3,561

-    3,525

-   10,723

 

 

 

 

 

Total liabilities

(0)

 8,579,805

-    4,230

-   61,320

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    34,801

         0

+      940

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,586

         0

+      940

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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, November 23, 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

     1,175

        15

        25

       108

        44

       187

        60

       221

        23

        36

        88

       149

       219

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

 8,522,164

   170,409

 4,361,520

   195,324

   342,066

   592,455

   556,636

   581,599

   133,531

    65,001

   133,160

   436,136

   954,327

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,775

    22,775

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,557

         0

     5,557

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,995

         0

     1,995

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       202

         9

        70

         7

        20

        40

         7

         8

         4

         1

         2

         5

        29

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    17,841

       768

     6,215

       662

     1,744

     3,577

       580

       676

       359

        90

       184

       428

     2,558

Other assets5

    33,445

       772

    15,842

       849

     1,369

     2,638

     2,276

     2,240

       820

       410

       786

     1,781

     3,663

Interdistrict settlement account

         0

+    3,894

+  320,730

-   47,251

-   53,580

+    4,167

+    7,922

-   57,373

-   11,335

-    4,042

-   19,897

-   31,224

-  112,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,621,390

   199,185

 4,717,225

   150,237

   292,425

   604,266

   569,728

   528,464

   123,863

    61,759

   114,763

   408,554

   850,922

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, November 23, 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

 2,246,419

    77,865

   704,243

    54,654

   110,806

   163,872

   351,658

   122,765

    69,441

    32,309

    52,112

   192,046

   314,648

Reverse repurchase agreements6

 2,430,204

    48,652

 1,245,970

    55,830

    97,045

   169,352

   159,000

   166,128

    38,167

    17,231

    37,936

   124,596

   270,297

Deposits

 3,890,947

    59,647

 2,753,104

    38,073

    80,441

   262,734

    56,947

   238,355

    15,139

    11,828

    24,080

    90,762

   259,838

Depository institutions

 3,168,849

    59,639

 2,172,769

    38,071

    80,407

   262,168

    56,915

    97,484

    15,130

    11,769

    24,048

    90,640

   259,809

U.S. Treasury, General Account

   492,754

         0

   492,754

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     7,435

         2

     7,409

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   221,910

         6

    80,173

         0

        30

       558

        31

   140,870

         9

        58

        31

       121

        23

Earnings remittances due to the U.S. Treasury8

   -10,554

      -179

    -7,931

       -52

      -117

      -976

        41

      -797

         8

       -30

       -22

       -43

      -457

Treasury contributions to credit facilities9

    15,347

    11,453

     3,894

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

     7,441

       -53

     3,333

       223

       287

       834

       813

       537

       183

       166

       215

       291

       614

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,579,805

   197,385

 4,702,614

   148,727

   288,462

   595,816

   568,458

   526,988

   122,938

    61,503

   114,321

   407,652

   844,940

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    34,801

     1,507

    12,248

     1,258

     3,300

     7,090

     1,049

     1,219

       788

       221

       371

       739

     5,010

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

 8,621,390

   199,185

 4,717,225

   150,237

   292,425

   604,266

   569,728

   528,464

   123,863

    61,759

   114,763

   408,554

   850,922

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, November 23, 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.

The Federal Reserve Banks remit residual net earnings 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. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume.

9.

Book value. Amount of equity investments in MS Facilities LLC of $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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

Nov 23, 2022

Federal Reserve notes outstanding

 2,609,848

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

   363,429

Federal Reserve notes to be collateralized

 2,246,419

Collateral held against Federal Reserve notes

 2,246,419

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,230,182

Other assets pledged

         0

Memo:

 

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

 8,209,753

Less: Face value of securities under reverse repurchase agreements

 2,666,704

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

 5,543,049

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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