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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 16, 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 15, 2023

Week ended
Feb 15, 2023

Change from week ended

Feb 8, 2023

Feb 16, 2022

Reserve Bank credit

 8,393,076

-    4,510

-  465,469

 8,348,550

Securities held outright1

 8,019,141

-    5,098

-  398,695

 7,990,467

U.S. Treasury securities

 5,392,212

-    4,945

-  343,076

 5,364,607

Bills2

   285,021

         0

-   41,023

   285,021

Notes and bonds, nominal2

 4,631,158

-    4,579

-  318,467

 4,603,687

Notes and bonds, inflation-indexed2

   374,979

         0

-   10,110

   374,979

Inflation compensation3

   101,054

-      366

+   26,525

   100,920

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,624,582

-      153

-   55,619

 2,623,512

Unamortized premiums on securities held outright5

   309,491

-      638

-   41,137

   309,222

Unamortized discounts on securities held outright5

   -27,533

+       14

-    8,015

   -27,659

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

    15,788

+      686

-   12,838

    15,673

Primary credit

     4,840

+      764

+    4,082

     4,778

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

    10,948

-       78

-   16,920

    10,895

Other credit extensions

         0

         0

         0

         0

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

    22,588

-       14

-    6,589

    22,383

Net portfolio holdings of Municipal Liquidity Facility LLC7

     5,584

+        3

-    1,513

     5,586

Net portfolio holdings of TALF II LLC7

     1,950

+        2

-      592

     1,951

Float

      -162

-        4

-       23

      -147

Central bank liquidity swaps8

       391

-       47

+      177

       391

Other Federal Reserve assets9

    45,838

+      587

+    3,756

    30,683

Foreign currency denominated assets10

    18,613

-      180

-    1,731

    18,489

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding11

    51,555

+       14

+      728

    51,555

 

 

 

 

 

Total factors supplying reserve funds

 8,479,486

-    4,675

-  466,471

 8,434,836

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 15, 2023

Week ended
Feb 15, 2023

Change from week ended

Feb 8, 2023

Feb 16, 2022

Currency in circulation11

 2,297,960

+      527

+   66,015

 2,298,891

Reverse repurchase agreements12

 2,417,068

+    6,346

+  519,466

 2,362,504

Foreign official and international accounts

   362,220

+    3,432

+  101,830

   350,506

Others

 2,054,849

+    2,915

+  417,637

 2,011,998

Treasury cash holdings

        99

+        3

+       68

       102

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

   691,937

-    9,469

-  255,498

   634,878

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   490,379

-    2,898

-  202,162

   439,703

Foreign official

     9,438

+        3

+    3,648

     9,434

Other13

   192,121

-    6,573

-   56,983

   185,740

Treasury contributions to credit facilities14

    15,347

         0

-    5,911

    15,347

Other liabilities and capital15

    16,036

-    5,537

-   31,676

    15,695

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,438,448

-    8,128

+  292,464

 5,327,417

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,041,038

+    3,454

-  758,935

 3,107,419

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 15, 2023

Week ended
Feb 15, 2023

Change from week ended

Feb 8, 2023

Feb 16, 2022

Securities held in custody for foreign official and international accounts

 3,346,062

+   14,010

-  101,827

 3,353,176

Marketable U.S. Treasury securities1

 2,938,139

+   13,511

-  103,229

 2,944,867

Federal agency debt and mortgage-backed securities2

   326,682

+       17

+    3,082

   326,357

Other securities3

    81,242

+      482

-    1,679

    81,951

Securities lent to dealers

    35,833

-    2,504

-    3,779

    37,401

Overnight facility4

    35,833

-    2,504

-    3,779

    37,401

U.S. Treasury securities

    35,818

-    2,500

-    3,794

    37,387

Federal agency debt securities

        15

-        4

+       15

        14

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 15, 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

     3,542

     1,243

         0

    10,888

         0

...

    15,673

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

   107,099

   320,438

   676,513

 1,874,096

   900,274

 1,486,187

 5,364,607

Weekly changes

-    8,087

-    6,166

-   15,422

-   14,410

-   10,119

+   21,789

-   32,415

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

         1

         3

        29

     7,983

    48,273

 2,567,223

 2,623,512

Weekly changes

+        1

-        1

         0

-       21

-      368

-      835

-    1,223

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    11,514

...

...

    11,514

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

       391

         0

         0

         0

         0

         0

       391

Reverse repurchase agreements8

 2,362,504

         0

...

...

...

...

 2,362,504

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 15, 2023

Mortgage-backed securities held outright1

 2,623,512

Residential mortgage-backed securities

 2,615,051

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 Feb 15, 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)

    10,705

    10,447

    11,936

    22,383

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,679

     5,586

TALF II LLC

       996

       959

       992

     1,951

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 15, 2023

Change since

Wednesday

Wednesday

Feb 8, 2023

Feb 16, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,293

+        6

+       22

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

 

 8,287,702

-   34,334

-  516,723

Securities held outright1

 

 7,990,467

-   33,637

-  455,112

U.S. Treasury securities

 

 5,364,607

-   32,415

-  374,012

Bills2

 

   285,021

         0

-   41,023

Notes and bonds, nominal2

 

 4,603,687

-   32,050

-  349,139

Notes and bonds, inflation-indexed2

 

   374,979

         0

-   10,110

Inflation compensation3

 

   100,920

-      365

+   26,261

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,623,512

-    1,223

-   81,101

Unamortized premiums on securities held outright5

 

   309,222

-      694

-   41,102

Unamortized discounts on securities held outright5

 

   -27,659

-      198

-    7,474

Repurchase agreements6

 

         0

-        1

         0

Loans7

 

    15,673

+      197

-   13,033

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

 

    22,383

-      239

-    6,597

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,586

+        2

-    1,512

Net portfolio holdings of TALF II LLC8

 

     1,951

+        1

-      591

Items in process of collection

(0)

        51

-        2

-        2

Bank premises

 

       485

+       12

-      902

Central bank liquidity swaps9

 

       391

-       47

+      177

Foreign currency denominated assets10

 

    18,489

-      209

-    1,867

Other assets11

 

    30,198

-   15,795

+    1,726

 

 

 

 

 

Total assets

(0)

 8,384,767

-   50,602

-  526,266

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 15, 2023

Change since

Wednesday

Wednesday

Feb 8, 2023

Feb 16, 2022

Liabilities

 

 

 

 

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

 

 2,248,727

+      418

+   64,019

Reverse repurchase agreements12

 

 2,362,504

-   56,427

+  461,042

Deposits

(0)

 3,742,296

+   11,056

-1,015,078

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,107,419

+   73,859

-  689,301

U.S. Treasury, General Account

 

   439,703

-   56,135

-  269,558

Foreign official

 

     9,434

         0

+    2,183

Other13

(0)

   185,740

-    6,668

-   58,401

Deferred availability cash items

(0)

       198

-       65

-       22

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -26,842

-    5,589

-   32,391

 

 

 

 

 

Total liabilities

(0)

 8,342,231

-   50,606

-  528,341

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,751

+        3

+    2,075

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,536

+        3

+    2,075

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 15, 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

     1,293

        18

        32

       118

        51

       197

        83

       235

        26

        37

        90

       165

       241

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

 8,287,702

   166,083

 4,243,946

   190,137

   332,809

   576,658

   541,459

   565,991

   129,959

    62,523

   129,539

   424,220

   924,379

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,383

    22,383

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,586

         0

     5,586

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,951

         0

     1,951

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       391

        17

       136

        15

        38

        78

        13

        15

         8

         2

         4

         9

        56

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,489

       796

     6,440

       686

     1,807

     3,707

       602

       701

       372

        93

       191

       444

     2,650

Other assets5

    30,734

       720

    14,894

       770

     1,220

     2,428

     1,977

     1,996

       775

       373

       729

     1,594

     3,257

Interdistrict settlement account

         0

-    5,397

+  309,958

-   49,896

-   44,075

+   35,206

+    9,729

-   58,604

-   13,733

-    3,514

-   24,877

-   41,794

-  113,004

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,384,767

   185,163

 4,588,215

   142,367

   292,613

   619,477

   556,110

   511,426

   117,868

    59,777

   106,117

   385,917

   819,716

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 15, 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

 2,248,727

    77,110

   706,361

    53,972

   110,084

   173,670

   350,792

   126,057

    68,528

    32,407

    48,743

   188,327

   312,676

Reverse repurchase agreements6

 2,362,504

    47,297

 1,211,260

    54,275

    94,342

   164,635

   154,570

   161,500

    37,104

    16,751

    36,879

   121,125

   262,767

Deposits

 3,742,296

    47,753

 2,672,172

    32,643

    84,617

   274,953

    49,094

   224,074

    11,213

    10,308

    19,981

    75,899

   239,590

Depository institutions

 3,107,419

    47,745

 2,170,724

    32,642

    84,586

   274,361

    49,065

    91,648

    11,201

    10,229

    19,953

    75,717

   239,547

U.S. Treasury, General Account

   439,703

         0

   439,703

         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

   185,740

         6

    52,336

         0

        27

       583

        27

   132,425

        11

        79

        28

       181

        37

Earnings remittances due to the U.S. Treasury8

   -33,135

      -639

   -23,482

      -187

      -592

    -2,939

       -93

    -2,653

       -44

       -56

       -99

      -438

    -1,914

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

     6,491

       389

     3,106

       158

       206

       681

       446

       448

       118

       100

       159

       214

       466

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,342,231

   183,363

 4,573,311

   140,861

   288,657

   610,999

   554,809

   509,427

   116,919

    59,510

   105,662

   385,127

   813,585

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,751

     1,509

    12,490

     1,262

     3,316

     7,105

     1,098

     1,763

       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

 8,384,767

   185,163

 4,588,215

   142,367

   292,613

   619,477

   556,110

   511,426

   117,868

    59,777

   106,117

   385,917

   819,716

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 15, 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 15, 2023

Federal Reserve notes outstanding

 2,632,701

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

   383,974

Federal Reserve notes to be collateralized

 2,248,727

Collateral held against Federal Reserve notes

 2,248,727

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,232,490

Other assets pledged

         0

Memo:

 

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

 7,990,467

Less: Face value of securities under reverse repurchase agreements

 2,509,387

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

 5,481,079

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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