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Release Date: Thursday, January 26, 2023
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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

January 26, 2023

 

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
Jan 25, 2023

Week ended
Jan 25, 2023

Change from week ended

Jan 18, 2023

Jan 26, 2022

Reserve Bank credit

 8,446,676

-   20,453

-  391,825

 8,433,857

Securities held outright1

 8,073,180

-   20,347

-  319,689

 8,062,665

U.S. Treasury securities

 5,435,760

-   14,436

-  270,924

 5,435,582

Bills2

   286,337

-    1,029

-   39,707

   286,200

Notes and bonds, nominal2

 4,672,607

-   11,058

-  255,292

 4,672,607

Notes and bonds, inflation-indexed2

   374,979

-    1,741

-    4,805

   374,979

Inflation compensation3

   101,837

-      608

+   28,879

   101,797

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,635,073

-    5,911

-   48,764

 2,624,735

Unamortized premiums on securities held outright5

   311,689

-      789

-   40,653

   311,189

Unamortized discounts on securities held outright5

   -27,437

+       36

-    8,481

   -27,342

Repurchase agreements6

         2

+        1

+        2

         0

Foreign official

         0

         0

         0

         0

Others

         2

+        1

+        2

         0

Loans

    15,856

+      397

-   15,170

    16,289

Primary credit

     4,623

+      469

+    4,201

     5,106

Secondary credit

         0

-        1

         0

         0

Seasonal credit

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    11,233

-       72

-   19,372

    11,183

Other credit extensions

         0

         0

         0

         0

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

    22,273

-      276

-    6,665

    22,291

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,577

+        3

-    2,291

     5,579

Net portfolio holdings of TALF II LLC7

     1,960

+        1

-      641

     1,961

Float

      -166

+        7

+       34

      -197

Central bank liquidity swaps8

       387

+      189

+      122

       387

Other Federal Reserve assets9

    43,355

+      324

+    1,607

    41,035

Foreign currency denominated assets10

    18,895

-       46

-    1,507

    18,961

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,513

+       14

+      728

    51,513

 

 

 

 

 

Total factors supplying reserve funds

 8,533,325

-   20,486

-  392,605

 8,520,573

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
Jan 25, 2023

Week ended
Jan 25, 2023

Change from week ended

Jan 18, 2023

Jan 26, 2022

Currency in circulation11

 2,291,713

-    4,914

+   61,047

 2,291,233

Reverse repurchase agreements12

 2,467,149

-   55,153

+  526,172

 2,415,204

Foreign official and international accounts

   381,841

+   23,413

+  101,416

   383,643

Others

 2,085,309

-   78,565

+  424,757

 2,031,561

Treasury cash holdings

       106

-        1

+       81

       107

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

   702,512

+  154,841

-  186,104

   773,682

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   491,848

+  152,830

-  123,029

   572,622

Foreign official

     8,934

-        1

+    1,011

     8,933

Other13

   201,730

+    2,012

-   64,086

   192,127

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

    15,347

Other liabilities and capital15

    24,609

+      183

-   23,604

    24,457

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,501,436

+   94,956

+  371,680

 5,520,031

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,031,889

-  115,443

-  764,285

 3,000,541

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
Jan 25, 2023

Week ended
Jan 25, 2023

Change from week ended

Jan 18, 2023

Jan 26, 2022

Securities held in custody for foreign official and international accounts

 3,320,714

-    9,850

-  137,478

 3,322,997

Marketable U.S. Treasury securities1

 2,913,506

-    8,059

-  138,993

 2,916,116

Federal agency debt and mortgage-backed securities2

   326,504

-    1,387

+    2,946

   326,412

Other securities3

    80,704

-      405

-    1,431

    80,469

Securities lent to dealers

    37,886

-    2,140

+      267

    39,296

Overnight facility4

    37,886

-    2,140

+      267

    39,296

U.S. Treasury securities

    37,865

-    2,140

+      246

    39,275

Federal agency debt securities

        21

         0

+       21

        21

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, January 25, 2023

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

     3,687

     1,426

         0

    11,176

         0

...

    16,289

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    85,234

   338,952

   720,122

 1,907,204

   919,538

 1,464,532

 5,435,582

Weekly changes

-      830

+    4,458

-    4,666

-       45

-       30

-       28

-    1,140

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

        28

     5,527

    49,549

 2,569,630

 2,624,735

Weekly changes

         0

-        1

-        9

-      171

-      641

-   14,382

-   15,205

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    11,602

...

...

    11,602

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

         0

       959

         0

...

...

       959

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       387

         0

         0

         0

         0

         0

       387

Reverse repurchase agreements8

 2,415,204

         0

...

...

...

...

 2,415,204

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

Jan 25, 2023

Mortgage-backed securities held outright1

 2,624,735

Residential mortgage-backed securities

 2,616,273

Commercial mortgage-backed securities

     8,462

 

 

Commitments to buy mortgage-backed securities2

        75

Commitments to sell mortgage-backed securities2

         0

 

 

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 Jan 25, 2023

 

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)

    10,966

    10,254

    12,037

    22,291

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,671

     5,579

TALF II LLC

     1,011

       959

     1,003

     1,961

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
Jan 25, 2023

Change since

Wednesday

Wednesday

Jan 18, 2023

Jan 26, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,252

+       17

+        8

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

 

 8,362,801

-   16,936

-  379,792

Securities held outright1

 

 8,062,665

-   16,345

-  316,719

U.S. Treasury securities

 

 5,435,582

-    1,140

-  280,635

Bills2

 

   286,200

-    1,031

-   39,844

Notes and bonds, nominal2

 

 4,672,607

         0

-  262,607

Notes and bonds, inflation-indexed2

 

   374,979

         0

-    6,518

Inflation compensation3

 

   101,797

-      109

+   28,334

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,624,735

-   15,205

-   36,085

Unamortized premiums on securities held outright5

 

   311,189

-    1,067

-   40,421

Unamortized discounts on securities held outright5

 

   -27,342

+       65

-    8,371

Repurchase agreements6

 

         0

-        1

         0

Loans7

 

    16,289

+      412

-   14,282

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

 

    22,291

+       21

-    6,654

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,579

+        3

-    2,290

Net portfolio holdings of TALF II LLC8

 

     1,961

+        1

-      641

Items in process of collection

(0)

        52

-       33

+        3

Bank premises

 

       487

+       11

-      896

Central bank liquidity swaps9

 

       387

+      189

+      122

Foreign currency denominated assets10

 

    18,961

+       15

-    1,364

Other assets11

 

    40,548

-    1,772

+    1,574

 

 

 

 

 

Total assets

(0)

 8,470,557

-   18,482

-  389,928

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
Jan 25, 2023

Change since

Wednesday

Wednesday

Jan 18, 2023

Jan 26, 2022

Liabilities

 

 

 

 

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

 

 2,241,074

-    3,795

+   60,803

Reverse repurchase agreements12

 

 2,415,204

-   88,058

+  524,014

Deposits

(0)

 3,774,224

+   73,046

-  946,670

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,000,542

-  117,695

-  824,534

U.S. Treasury, General Account

 

   572,622

+  195,122

-   66,998

Foreign official

 

     8,933

-        1

+    2,263

Other13

(0)

   192,127

-    4,381

-   57,401

Deferred availability cash items

(0)

       249

-       44

-      322

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -17,369

+      367

-   23,163

 

 

 

 

 

Total liabilities

(0)

 8,428,731

-   18,482

-  391,247

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,041

         0

+    1,319

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    41,826

         0

+    1,319

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 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, January 25, 2023

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

     1,252

        17

        29

       112

        44

       193

        84

       232

        25

        36

        92

       160

       226

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

 8,362,801

   167,518

 4,282,296

   191,931

   335,809

   581,903

   546,387

   571,093

   131,189

    63,197

   130,660

   428,178

   932,640

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,291

    22,291

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,579

         0

     5,579

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,961

         0

     1,961

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       387

        17

       135

        14

        38

        78

        13

        15

         8

         2

         4

         9

        55

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,961

       816

     6,605

       703

     1,853

     3,802

       617

       719

       382

        95

       196

       455

     2,718

Other assets5

    41,087

       950

    19,738

     1,031

     1,698

     3,224

     2,734

     2,785

       790

       478

       940

     2,189

     4,533

Interdistrict settlement account

         0

-    5,518

+  342,880

-   50,354

-   50,693

+   19,528

+   10,863

-   54,450

-   13,464

-    4,085

-   23,364

-   40,913

-  130,431

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,470,557

   186,636

 4,664,493

   143,974

   289,512

   609,931

   562,944

   521,487

   119,390

    59,986

   108,968

   391,358

   811,878

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, January 25, 2023 (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

 2,241,074

    77,122

   704,798

    54,367

   110,058

   172,686

   350,911

   120,989

    68,811

    32,338

    48,956

   189,331

   310,708

Reverse repurchase agreements6

 2,415,204

    48,352

 1,238,279

    55,485

    96,446

   168,307

   158,018

   165,103

    37,932

    17,125

    37,702

   123,827

   268,629

Deposits

 3,774,224

    48,288

 2,716,991

    32,526

    79,138

   261,791

    52,169

   235,338

    11,569

    10,175

    21,738

    77,286

   227,215

Depository institutions

 3,000,542

    48,274

 2,080,166

    32,525

    79,108

   261,306

    52,133

    99,580

    11,560

    10,012

    21,709

    76,999

   227,170

U.S. Treasury, General Account

   572,622

         0

   572,622

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     8,933

         2

     8,907

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   192,127

        12

    55,295

         0

        26

       478

        35

   135,757

         8

       162

        28

       287

        39

Earnings remittances due to the U.S. Treasury8

   -25,875

      -464

   -19,183

       -84

      -341

    -2,118

        48

    -2,049

        11

       -27

       -37

      -255

    -1,375

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

     8,755

        87

     4,840

       177

       268

       786

       536

       650

       127

       111

       166

       287

       720

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,428,731

   184,837

 4,649,619

   142,472

   285,570

   601,453

   561,683

   520,032

   118,448

    59,721

   108,524

   390,476

   805,896

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,041

     1,507

    12,460

     1,258

     3,302

     7,105

     1,057

     1,219

       789

       221

       372

       739

     5,011

Surplus

     6,785

       292

     2,414

       244

       640

     1,374

       203

       236

       153

        43

        72

       143

       971

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 8,470,557

   186,636

 4,664,493

   143,974

   289,512

   609,931

   562,944

   521,487

   119,390

    59,986

   108,968

   391,358

   811,878

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, January 25, 2023 (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 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 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

Jan 25, 2023

Federal Reserve notes outstanding

 2,627,928

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

   386,853

Federal Reserve notes to be collateralized

 2,241,074

Collateral held against Federal Reserve notes

 2,241,074

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,224,838

Other assets pledged

         0

Memo:

 

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

 8,062,665

Less: Face value of securities under reverse repurchase agreements

 2,554,103

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

 5,508,561

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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