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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

February 9, 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
Feb 8, 2023

Week ended
Feb 8, 2023

Change from week ended

Feb 1, 2023

Feb 9, 2022

Reserve Bank credit

 8,397,586

-   25,909

-  440,112

 8,398,884

Securities held outright1

 8,024,239

-   26,699

-  368,920

 8,024,104

U.S. Treasury securities

 5,397,157

-   26,698

-  332,805

 5,397,022

Bills2

   285,021

-       60

-   41,023

   285,021

Notes and bonds, nominal2

 4,635,737

-   26,335

-  308,915

 4,635,737

Notes and bonds, inflation-indexed2

   374,979

         0

-   10,110

   374,979

Inflation compensation3

   101,420

-      303

+   27,243

   101,285

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,624,735

         0

-   36,115

 2,624,735

Unamortized premiums on securities held outright5

   310,129

-      651

-   41,094

   309,916

Unamortized discounts on securities held outright5

   -27,547

-        8

-    8,353

   -27,461

Repurchase agreements6

         0

-        2

         0

         1

Foreign official

         0

         0

         0

         0

Others

         0

-        2

         0

         1

Loans

    15,102

-    1,249

-   13,846

    15,476

Primary credit

     4,076

-    1,156

+    3,750

     4,486

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    11,026

-       92

-   17,596

    10,990

Other credit extensions

         0

         0

         0

         0

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

    22,602

+       22

-    6,648

    22,622

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,581

+        2

-    1,957

     5,584

Net portfolio holdings of TALF II LLC7

     1,948

-       10

-      594

     1,950

Float

      -158

+      229

-       42

      -211

Central bank liquidity swaps8

       438

+       11

+      231

       438

Other Federal Reserve assets9

    45,251

+    2,444

+    1,111

    46,466

Foreign currency denominated assets10

    18,793

-      118

-    1,639

    18,698

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,541

+       14

+      728

    51,541

 

 

 

 

 

Total factors supplying reserve funds

 8,484,161

-   26,014

-  441,023

 8,485,365

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
Feb 8, 2023

Week ended
Feb 8, 2023

Change from week ended

Feb 1, 2023

Feb 9, 2022

Currency in circulation11

 2,297,433

+    3,615

+   67,235

 2,298,469

Reverse repurchase agreements12

 2,410,722

+    6,314

+  496,725

 2,418,931

Foreign official and international accounts

   358,788

-   19,403

+   98,615

   359,327

Others

 2,051,934

+   25,717

+  398,110

 2,059,604

Treasury cash holdings

        96

-        9

+       71

        99

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

   701,406

-   59,520

-  236,889

   697,680

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   493,277

-   66,812

-  193,107

   495,838

Foreign official

     9,435

+        1

+    4,217

     9,434

Other13

   198,694

+    7,290

-   48,000

   192,408

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

    15,347

Other liabilities and capital15

    21,573

+    1,510

-   27,926

    21,279

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,446,576

-   48,092

+  293,303

 5,451,805

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,037,584

+   22,078

-  734,327

 3,033,560

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
Feb 8, 2023

Week ended
Feb 8, 2023

Change from week ended

Feb 1, 2023

Feb 9, 2022

Securities held in custody for foreign official and international accounts

 3,332,052

+    7,037

-  133,707

 3,337,389

Marketable U.S. Treasury securities1

 2,924,628

+    6,664

-  135,519

 2,929,820

Federal agency debt and mortgage-backed securities2

   326,665

+      148

+    3,598

   326,665

Other securities3

    80,760

+      226

-    1,785

    80,904

Securities lent to dealers

    38,337

+      994

+    1,568

    38,322

Overnight facility4

    38,337

+      994

+    1,568

    38,322

U.S. Treasury securities

    38,318

+      996

+    1,549

    38,303

Federal agency debt securities

        19

-        2

+       19

        19

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, February 8, 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

     3,395

     1,098

         0

    10,983

         0

...

    15,476

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

   115,186

   326,604

   691,935

 1,888,506

   910,393

 1,464,398

 5,397,022

Weekly changes

-      107

+      500

-      412

-      151

-      100

-       96

-      366

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

         4

        29

     8,004

    48,641

 2,568,058

 2,624,735

Weekly changes

         0

         0

         0

+    2,411

-      840

-    1,572

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    11,530

...

...

    11,530

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

         1

         0

...

...

...

...

         1

Central bank liquidity swaps9

       438

         0

         0

         0

         0

         0

       438

Reverse repurchase agreements8

 2,418,931

         0

...

...

...

...

 2,418,931

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

Feb 8, 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

       150

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 Feb 8, 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

    10,463

    12,158

    22,622

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,676

     5,584

TALF II LLC

       996

       959

       991

     1,950

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 December 31, 2022.

 

b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 

    a one-day lag after the transaction date.

 

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3.

Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.

 

 


 

H.4.1

 

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Assets, liabilities, and capital

Eliminations from consolidation

Wednesday
Feb 8, 2023

Change since

Wednesday

Wednesday

Feb 1, 2023

Feb 9, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,287

+       18

+       35

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

 

 8,322,036

-    1,304

-  433,527

Securities held outright1

 

 8,024,104

-      366

-  370,957

U.S. Treasury securities

 

 5,397,022

-      366

-  334,842

Bills2

 

   285,021

         0

-   41,023

Notes and bonds, nominal2

 

 4,635,737

         0

-  310,687

Notes and bonds, inflation-indexed2

 

   374,979

         0

-   10,110

Inflation compensation3

 

   101,285

-      366

+   26,979

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,624,735

         0

-   36,116

Unamortized premiums on securities held outright5

 

   309,916

-      624

-   41,246

Unamortized discounts on securities held outright5

 

   -27,461

-        9

-    8,269

Repurchase agreements6

 

         1

-       10

+        1

Loans7

 

    15,476

-      293

-   13,056

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

 

    22,622

+       24

-    6,636

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,584

+        3

-    1,513

Net portfolio holdings of TALF II LLC8

 

     1,950

+        2

-      592

Items in process of collection

(0)

        53

-        3

-       38

Bank premises

 

       473

+        4

-      909

Central bank liquidity swaps9

 

       438

+       11

+      238

Foreign currency denominated assets10

 

    18,698

-      306

-    1,714

Other assets11

 

    45,993

+    3,311

+    2,018

 

 

 

 

 

Total assets

(0)

 8,435,369

+    1,759

-  442,640

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
Feb 8, 2023

Change since

Wednesday

Wednesday

Feb 1, 2023

Feb 9, 2022

Liabilities

 

 

 

 

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

 

 2,248,309

+    1,702

+   66,554

Reverse repurchase agreements12

 

 2,418,931

+    4,586

+  511,040

Deposits

(0)

 3,731,240

-    4,643

-  988,730

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,033,560

+    3,274

-  761,417

U.S. Treasury, General Account

 

   495,838

-    5,014

-  183,181

Foreign official

 

     9,434

-        1

+    4,244

Other13

(0)

   192,408

-    2,902

-   48,376

Deferred availability cash items

(0)

       263

-      404

+       55

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -21,253

-      173

-   27,643

 

 

 

 

 

Total liabilities

(0)

 8,392,837

+    1,068

-  444,635

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,748

+      692

+    1,996

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,533

+      692

+    1,996

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, February 8, 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

     1,287

        18

        29

       116

        48

       194

        91

       235

        25

        38

        91

       163

       237

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

 8,322,036

   166,541

 4,261,804

   190,931

   334,189

   579,029

   543,710

   568,287

   130,475

    62,801

   130,110

   426,154

   928,005

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,622

    22,622

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,584

         0

     5,584

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,950

         0

     1,950

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       438

        19

       153

        16

        43

        88

        14

        17

         9

         2

         5

        11

        63

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,698

       805

     6,514

       693

     1,827

     3,749

       608

       709

       376

        94

       193

       449

     2,680

Other assets5

    46,518

     1,038

    23,044

     1,133

     1,868

     3,500

     3,017

     3,075

       873

       539

     1,020

     2,407

     5,003

Interdistrict settlement account

         0

-    3,013

+  324,156

-   49,850

-   47,707

+    7,788

+   13,468

-   45,090

-   11,865

-    4,211

-   23,093

-   33,636

-  126,948

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,435,369

   188,574

 4,628,504

   143,577

   291,032

   595,551

   563,156

   528,325

   120,354

    59,526

   108,766

   396,828

   811,176

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, February 8, 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

 2,248,309

    77,121

   704,280

    54,009

   110,056

   173,849

   351,206

   125,607

    68,920

    32,412

    48,637

   189,341

   312,871

Reverse repurchase agreements6

 2,418,931

    48,427

 1,240,190

    55,571

    96,595

   168,567

   158,262

   165,358

    37,990

    17,151

    37,760

   124,018

   269,043

Deposits

 3,731,240

    49,933

 2,681,902

    32,456

    80,659

   246,531

    51,872

   237,140

    12,381

     9,625

    21,799

    82,761

   224,180

Depository institutions

 3,033,560

    49,911

 2,123,815

    32,454

    80,616

   245,874

    51,803

    98,644

    12,374

     9,558

    21,771

    82,606

   224,133

U.S. Treasury, General Account

   495,838

         0

   495,838

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,434

         2

     9,408

         1

         4

         8

         1

         2

         1

         0

         0

         1

         6

Other7

   192,408

        20

    52,842

         0

        39

       650

        68

   138,494

         6

        66

        27

       154

        42

Earnings remittances due to the U.S. Treasury8

   -30,234

      -592

   -21,579

      -154

      -512

    -2,680

       -59

    -2,449

       -22

       -42

       -65

      -376

    -1,703

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

     9,244

       432

     4,912

       190

       278

       806

       573

       674

       136

       113

       181

       294

       655

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,392,837

   186,774

 4,613,600

   142,071

   287,076

   587,073

   561,854

   526,329

   119,405

    59,259

   108,312

   396,038

   805,046

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,748

     1,509

    12,490

     1,262

     3,316

     7,104

     1,098

     1,759

       796

       224

       383

       647

     5,159

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

 8,435,369

   188,574

 4,628,504

   143,577

   291,032

   595,551

   563,156

   528,325

   120,354

    59,526

   108,766

   396,828

   811,176

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, February 8, 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

Feb 8, 2023

Federal Reserve notes outstanding

 2,632,056

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

   383,747

Federal Reserve notes to be collateralized

 2,248,309

Collateral held against Federal Reserve notes

 2,248,309

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,232,072

Other assets pledged

         0

Memo:

 

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

 8,024,105

Less: Face value of securities under reverse repurchase agreements

 2,575,435

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

 5,448,670

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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