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Release Date: April 20, 2023

 

 

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

 

 

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
Apr 19, 2023

Week ended
Apr 19, 2023

Change from week ended

Apr 12, 2023

Apr 20, 2022

Reserve Bank credit

 8,570,989

-   15,486

-  345,260

 8,556,700

Securities held outright1

 7,870,494

-    7,017

-  621,853

 7,860,459

U.S. Treasury securities

 5,274,250

-    6,434

-  478,203

 5,265,070

Bills2

   280,966

         0

-   45,078

   280,966

Notes and bonds, nominal2

 4,516,753

-    1,043

-  446,832

 4,515,362

Notes and bonds, inflation-indexed2

   372,047

-    4,977

-   10,240

   365,411

Inflation compensation3

   104,484

-      413

+   23,947

   103,330

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,593,897

-      583

-  143,650

 2,593,042

Unamortized premiums on securities held outright5

   303,508

-      548

-   39,547

   303,280

Unamortized discounts on securities held outright5

   -27,332

+       70

-    4,947

   -27,248

Repurchase agreements6

    25,000

-    9,286

+   25,000

    20,000

Foreign official

    25,000

-    9,286

+   25,000

    20,000

Others

         0

         0

         0

         0

Loans

   325,013

-    1,584

+  301,424

   325,458

Primary credit

    69,942

+    2,021

+   68,674

    69,925

Secondary credit

         0

         0

         0

         0

Seasonal credit

         2

+        1

+        2

         3

Paycheck Protection Program Liquidity Facility

     8,963

-      105

-   13,358

     8,933

Bank Term Funding Program

    73,490

-    3,217

+   73,490

    73,982

Other credit extensions7

   172,615

-      285

+  172,615

   172,615

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

    22,261

-       69

-    6,447

    22,154

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,608

+        3

-    1,047

     5,610

Net portfolio holdings of TALF II LLC8

     1,925

+        1

-      587

     1,927

Float

      -153

+       21

-       48

      -170

Central bank liquidity swaps9

       479

-        5

+      242

       480

Other Federal Reserve assets10

    44,186

+    2,927

+    2,550

    44,752

Foreign currency denominated assets11

    18,855

+        5

-      148

    18,785

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    51,681

+       14

+      728

    51,681

 

 

 

 

 

Total factors supplying reserve funds

 8,657,767

-   15,467

-  344,679

 8,643,408

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
Apr 19, 2023

Week ended
Apr 19, 2023

Change from week ended

Apr 12, 2023

Apr 20, 2022

Currency in circulation12

 2,322,600

-    1,390

+   52,579

 2,323,062

Reverse repurchase agreements13

 2,634,114

+   42,039

+  610,556

 2,666,343

Foreign official and international accounts

   366,460

-    6,275

+   92,897

   371,666

Others

 2,267,653

+   48,313

+  517,657

 2,294,677

Treasury cash holdings

       169

+        1

+       88

       161

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

   380,092

+   53,518

-  606,181

   471,124

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   166,555

+   57,347

-  544,851

   265,095

Foreign official

     9,787

-      480

-      561

     9,684

Other14

   203,749

-    3,349

-   60,771

   196,346

Treasury contributions to credit facilities15

    15,347

         0

-    5,911

    15,347

Other liabilities and capital16

     2,293

+    1,201

-   46,860

     2,490

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,354,614

+   95,369

+    4,269

 5,478,527

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,303,152

-  110,837

-  348,949

 3,164,881

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 loans that were extended to depository institutions established by the Federal Deposit Insurance Corporation (FDIC). The Federal Reserve Banks' loans to these depository institutions are secured by collateral and the FDIC provides repayment guarantees.

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.

Includes bank premises, accrued interest, and other accounts receivable.

11.

Revalued daily at current foreign currency exchange rates.

12.

Estimated.

13.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

14.

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.

15.

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.

16.

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
Apr 19, 2023

Week ended
Apr 19, 2023

Change from week ended

Apr 12, 2023

Apr 20, 2022

Securities held in custody for foreign official and international accounts

 3,337,667

+    6,719

-  107,919

 3,345,270

Marketable U.S. Treasury securities1

 2,916,085

+    6,047

-  110,005

 2,923,907

Federal agency debt and mortgage-backed securities2

   340,104

-       63

+    2,566

   339,897

Other securities3

    81,479

+      736

-      478

    81,466

Securities lent to dealers

    46,281

-    1,428

+    3,597

    47,147

Overnight facility4

    46,281

-    1,428

+    3,597

    47,147

U.S. Treasury securities

    46,265

-    1,417

+    3,581

    47,131

Federal agency debt securities

        16

-       12

+       16

        16

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, April 19, 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

   176,510

    66,967

    73,054

     8,927

         0

...

   325,458

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

   107,845

   314,290

   660,472

 1,822,637

   879,385

 1,480,441

 5,265,070

Weekly changes

+   41,137

-   40,141

+   15,783

-   20,583

-   13,357

+    1,317

-   15,844

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

         3

        23

     7,974

    46,438

 2,538,604

 2,593,042

Weekly changes

         0

         0

         0

-       21

-      388

-    1,029

-    1,438

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    11,088

...

...

    11,088

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

        57

       870

         0

...

...

       927

Repurchase agreements8

    20,000

         0

...

...

...

...

    20,000

Central bank liquidity swaps9

       480

         0

         0

         0

         0

         0

       480

Reverse repurchase agreements8

 2,666,343

         0

...

...

...

...

 2,666,343

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), Bank Term Funding Program, 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. Additionally, the Within 15 days category includes loans to FDIC-established depository institutions that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, collateral securing the loans, and the FDIC repayment guarantees. 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

Apr 19, 2023

Mortgage-backed securities held outright1

 2,593,042

Residential mortgage-backed securities

 2,584,613

Commercial mortgage-backed securities

     8,429

 

 

Commitments to buy mortgage-backed securities2

        95

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 Apr 19, 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)

    10,296

    10,045

    12,109

    22,154

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,703

     5,610

TALF II LLC

       958

       927

     1,000

     1,927

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
Apr 19, 2023

Change since

Wednesday

Wednesday

Apr 12, 2023

Apr 20, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,309

         0

+       25

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

 

 8,481,949

-   23,445

-  357,834

Securities held outright1

 

 7,860,459

-   17,282

-  635,611

U.S. Treasury securities

 

 5,265,070

-   15,844

-  497,965

Bills2

 

   280,966

         0

-   45,078

Notes and bonds, nominal2

 

 4,515,362

-    2,434

-  460,101

Notes and bonds, inflation-indexed2

 

   365,411

-   11,613

-   15,451

Inflation compensation3

 

   103,330

-    1,797

+   22,663

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,593,042

-    1,438

-  137,645

Unamortized premiums on securities held outright5

 

   303,280

-      600

-   39,131

Unamortized discounts on securities held outright5

 

   -27,248

+       66

-    4,196

Repurchase agreements6

 

    20,000

-   10,000

+   20,000

Loans7

 

   325,458

+    4,371

+  301,104

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

 

    22,154

-      197

-    6,322

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,610

+        3

-    1,046

Net portfolio holdings of TALF II LLC8

 

     1,927

+        2

-      585

Items in process of collection

(0)

        52

-        6

-       12

Bank premises

 

       454

+        1

-      616

Central bank liquidity swaps9

 

       480

-        4

+      243

Foreign currency denominated assets10

 

    18,785

-      113

-      216

Other assets11

 

    44,308

+    2,226

+    3,778

 

 

 

 

 

Total assets

(0)

 8,593,263

-   21,534

-  362,588

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
Apr 19, 2023

Change since

Wednesday

Wednesday

Apr 12, 2023

Apr 20, 2022

Liabilities

 

 

 

 

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

 

 2,272,847

-    1,234

+   52,030

Reverse repurchase agreements12

 

 2,666,343

-   10,384

+  502,066

Deposits

(0)

 3,636,015

-   11,049

-  866,186

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,164,891

-  182,662

-  161,966

U.S. Treasury, General Account

 

   265,095

+  178,541

-  642,431

Foreign official

 

     9,684

-       74

-      393

Other13

(0)

   196,346

-    6,853

-   61,395

Deferred availability cash items

(0)

       222

-       86

+        4

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -39,713

+    1,220

-   45,548

 

 

 

 

 

Total liabilities

(0)

 8,551,061

-   21,534

-  363,545

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,417

         0

+      957

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,202

         0

+      957

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, Bank Term Funding Program, 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, April 19, 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

       557

     5,175

       525

       752

     1,187

     2,287

     1,104

       479

       264

       452

     1,290

     2,165

Coin

     1,309

        24

        39

       116

        42

       184

        96

       241

        25

        39

        89

       158

       258

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

 8,481,949

   159,534

 4,611,108

   135,188

   253,736

   570,584

   555,223

   510,779

   124,577

    62,612

   114,578

   404,442

   979,589

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,154

    22,154

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,610

         0

     5,610

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,927

         0

     1,927

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       480

        21

       171

        17

        45

        97

        14

        17

        11

         3

         5

        10

        69

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,785

       808

     6,685

       675

     1,771

     3,803

       563

       654

       423

       119

       199

       396

     2,688

Other assets5

    44,813

       962

    23,610

       825

     1,414

     3,355

     2,932

     2,657

       760

       487

       883

     2,182

     4,747

Interdistrict settlement account

         0

+   10,756

-  179,190

-    3,240

+   36,489

+  220,451

+   33,451

+    3,281

-    1,654

-       33

-    8,307

+    9,280

-  121,285

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,593,263

   194,815

 4,475,134

   134,107

   294,250

   799,661

   594,565

   518,732

   124,621

    63,490

   107,899

   417,759

   868,230

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, April 19, 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

 2,272,847

    77,684

   722,673

    52,532

   111,528

   173,859

   355,530

   124,195

    68,895

    32,557

    47,764

   189,329

   316,301

Reverse repurchase agreements6

 2,666,343

    51,513

 1,489,019

    43,945

    81,938

   185,549

   180,629

   166,210

    39,886

    18,079

    34,473

   130,003

   245,098

Deposits

 3,636,015

    52,676

 2,274,804

    36,210

    97,558

   435,901

    56,524

   229,560

    14,783

    12,568

    25,169

    98,023

   302,238

Depository institutions

 3,164,891

    52,664

 1,946,561

    36,209

    97,527

   435,200

    56,492

    87,661

    14,774

    12,510

    25,138

    97,937

   302,216

U.S. Treasury, General Account

   265,095

         0

   265,095

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,684

         2

     9,658

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   196,346

        10

    53,489

         0

        27

       693

        31

   141,897

         8

        57

        30

        86

        17

Earnings remittances due to the U.S. Treasury8

   -50,396

      -955

   -35,373

      -296

    -1,117

    -5,521

        12

    -3,942

       -48

      -102

      -153

      -747

    -2,153

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

    10,904

       645

     5,256

       210

       384

     1,394

       569

       710

       147

       122

       191

       359

       918

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,551,061

   193,017

 4,460,274

   132,601

   290,291

   791,182

   593,264

   516,733

   123,664

    63,223

   107,444

   416,968

   862,401

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,417

     1,507

    12,446

     1,262

     3,319

     7,106

     1,098

     1,763

       805

       224

       383

       648

     4,858

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

 8,593,263

   194,815

 4,475,134

   134,107

   294,250

   799,661

   594,565

   518,732

   124,621

    63,490

   107,899

   417,759

   868,230

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, April 19, 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, Bank Term Funding Program, 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

Apr 19, 2023

Federal Reserve notes outstanding

 2,637,923

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

   365,076

Federal Reserve notes to be collateralized

 2,272,847

Collateral held against Federal Reserve notes

 2,272,847

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,256,610

Other assets pledged

         0

Memo:

 

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

 7,880,459

Less: Face value of securities under reverse repurchase agreements

 2,826,320

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

 5,054,139

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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Last Update: April 20, 2023