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Release Date: May 18, 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
May 17, 2023

Week ended
May 17, 2023

Change from week ended

May 10, 2023

May 18, 2022

Reserve Bank credit

 8,448,187

-   12,427

-  471,207

 8,420,400

Securities held outright1

 7,788,531

-   12,544

-  715,750

 7,771,385

U.S. Treasury securities

 5,210,988

-   11,960

-  556,520

 5,194,610

Bills2

   281,041

+       64

-   45,003

   281,041

Notes and bonds, nominal2

 4,459,490

-   12,380

-  515,973

 4,442,983

Notes and bonds, inflation-indexed2

   365,436

+        3

-   15,426

   365,436

Inflation compensation3

   105,021

+      353

+   19,882

   105,150

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,575,196

-      584

-  159,230

 2,574,428

Unamortized premiums on securities held outright5

   300,769

-      593

-   38,805

   300,483

Unamortized discounts on securities held outright5

   -27,483

-       42

-    3,509

   -27,510

Repurchase agreements6

         2

-        7

+        2

         6

Foreign official

         0

         0

         0

         0

Others

         2

-        7

+        2

         6

Loans

   314,025

+    4,990

+  292,494

   312,840

Primary credit

     9,201

+    4,580

+    8,355

     9,048

Secondary credit

         0

         0

         0

         0

Seasonal credit

         7

+        2

+        4

         6

Paycheck Protection Program Liquidity Facility

     8,341

-      109

-   12,341

     8,281

Bank Term Funding Program

    85,900

+    4,380

+   85,900

    87,006

Other credit extensions7

   210,576

-    3,863

+  210,576

   208,498

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

    22,143

-       97

-    6,414

    22,002

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,618

+        2

-    1,042

     5,621

Net portfolio holdings of TALF II LLC8

     1,900

+        1

-      566

     1,902

Float

      -143

+       18

-        1

      -240

Central bank liquidity swaps9

       410

-       12

+      191

       410

Other Federal Reserve assets10

    42,414

-    4,145

+    2,192

    33,504

Foreign currency denominated assets11

    18,648

-      210

+      169

    18,532

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    51,737

+       14

+      728

    51,737

 

 

 

 

 

Total factors supplying reserve funds

 8,534,813

-   12,623

-  470,311

 8,506,911

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
May 17, 2023

Week ended
May 17, 2023

Change from week ended

May 10, 2023

May 18, 2022

Currency in circulation12

 2,332,604

+    2,403

+   60,218

 2,333,550

Reverse repurchase agreements13

 2,606,881

+    6,115

+  446,099

 2,598,627

Foreign official and international accounts

   382,930

+    1,915

+  104,996

   384,951

Others

 2,223,951

+    4,200

+  341,103

 2,213,676

Treasury cash holdings

       211

+        7

+      121

       217

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

   337,091

-   74,554

-  805,479

   285,396

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   116,220

-   81,446

-  770,744

    68,332

Foreign official

     9,685

+        7

+    1,806

     9,685

Other14

   211,186

+    6,886

-   36,542

   207,379

Treasury contributions to credit facilities15

    15,347

         0

-    5,911

    15,347

Other liabilities and capital16

    -6,199

+      957

-   57,859

    -6,214

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,285,935

-   65,072

-  362,812

 5,226,924

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,248,878

+   52,449

-  107,499

 3,279,987

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 that were subsequently placed into Federal Deposit Insurance Corporation (FDIC) receivership, including depository institutions established by the FDIC. The Federal Reserve Banks' loans to these depository institutions are secured by pledged 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
May 17, 2023

Week ended
May 17, 2023

Change from week ended

May 10, 2023

May 18, 2022

Securities held in custody for foreign official and international accounts

 3,389,590

+    8,043

-   33,190

 3,388,192

Marketable U.S. Treasury securities1

 2,965,953

+    5,324

-   40,219

 2,963,702

Federal agency debt and mortgage-backed securities2

   341,912

+    2,673

+    8,275

   342,783

Other securities3

    81,725

+       46

-    1,245

    81,707

Securities lent to dealers

    41,935

+      520

+    2,458

    43,203

Overnight facility4

    41,935

+      520

+    2,458

    43,203

U.S. Treasury securities

    41,926

+      527

+    2,449

    43,194

Federal agency debt securities

         9

-        7

+        9

         9

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, May 17, 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

   211,089

     7,663

    85,812

     8,276

         0

...

   312,840

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

   106,859

   312,778

   620,092

 1,796,961

   860,559

 1,497,361

 5,194,610

Weekly changes

+    3,706

+   26,073

-   37,813

-   25,019

-   10,836

+   15,352

-   28,536

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

        19

     8,570

    44,799

 2,521,037

 2,574,428

Weekly changes

         0

         0

         0

-       20

-      352

-      980

-    1,352

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    10,783

...

...

    10,783

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

       173

       706

         0

...

...

       879

Repurchase agreements8

         6

         0

...

...

...

...

         6

Central bank liquidity swaps9

       410

         0

         0

         0

         0

         0

       410

Reverse repurchase agreements8

 2,598,627

         0

...

...

...

...

 2,598,627

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 depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, pledged 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

May 17, 2023

Mortgage-backed securities held outright1

 2,574,428

Residential mortgage-backed securities

 2,566,021

Commercial mortgage-backed securities

     8,406

 

 

Commitments to buy mortgage-backed securities2

        59

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

        66

 

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 May 17, 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)

    10,016

     9,773

    12,229

    22,002

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,713

     5,621

TALF II LLC

       927

       879

     1,023

     1,902

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 March 31, 2023.

 

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
May 17, 2023

Change since

Wednesday

Wednesday

May 10, 2023

May 18, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,303

+        8

+       28

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

 

 8,357,203

-   31,258

-  483,391

Securities held outright1

 

 7,771,385

-   29,888

-  732,806

U.S. Treasury securities

 

 5,194,610

-   28,536

-  573,411

Bills2

 

   281,041

         0

-   45,003

Notes and bonds, nominal2

 

 4,442,983

-   28,887

-  532,480

Notes and bonds, inflation-indexed2

 

   365,436

         0

-   15,426

Inflation compensation3

 

   105,150

+      351

+   19,498

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,574,428

-    1,352

-  159,395

Unamortized premiums on securities held outright5

 

   300,483

-      675

-   38,824

Unamortized discounts on securities held outright5

 

   -27,510

-      155

-    3,209

Repurchase agreements6

 

         6

-       19

+        6

Loans7

 

   312,840

-      520

+  291,443

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

 

    22,002

-      258

-    6,436

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,621

+        3

-    1,040

Net portfolio holdings of TALF II LLC8

 

     1,902

+        2

-      564

Items in process of collection

(0)

        48

-       40

-       28

Bank premises

 

       450

+        3

-      172

Central bank liquidity swaps9

 

       410

-       12

+      191

Foreign currency denominated assets10

 

    18,532

-      294

-       49

Other assets11

 

    33,054

-   14,409

+    2,325

 

 

 

 

 

Total assets

(0)

 8,456,760

-   46,257

-  489,138

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
May 17, 2023

Change since

Wednesday

Wednesday

May 10, 2023

May 18, 2022

Liabilities

 

 

 

 

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

 

 2,283,328

+      642

+   60,034

Reverse repurchase agreements12

 

 2,598,627

-   19,551

+  357,005

Deposits

(0)

 3,565,383

-   28,086

-  844,338

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,279,987

+   54,676

-   17,155

U.S. Treasury, General Account

 

    68,332

-   86,476

-  798,394

Foreign official

 

     9,685

+        1

+    2,249

Other13

(0)

   207,379

+    3,713

-   31,038

Deferred availability cash items

(0)

       288

+       41

+       89

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -48,615

+      698

-   56,804

 

 

 

 

 

Total liabilities

(0)

 8,414,358

-   46,256

-  489,926

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,617

-        1

+      788

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,402

-        1

+      788

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, May 17, 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

     1,303

        23

        38

       117

        41

       179

        95

       247

        27

        39

        89

       157

       251

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

 8,357,203

   158,670

 4,542,209

   134,055

   250,645

   564,685

   549,870

   506,036

   123,217

    62,841

   112,129

   401,096

   951,750

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,002

    22,002

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,621

         0

     5,621

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,902

         0

     1,902

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       410

        18

       146

        15

        39

        83

        12

        14

         9

         3

         4

         9

        59

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,532

       797

     6,595

       666

     1,747

     3,752

       556

       645

       417

       117

       197

       391

     2,652

Other assets5

    33,552

       732

    16,950

       621

     1,025

     2,507

     2,100

     1,903

       730

       413

       710

     1,605

     4,255

Interdistrict settlement account

         0

+    5,664

-  296,551

-    1,946

+   49,443

+  266,155

+   33,018

+   26,271

+      711

-    2,830

-    6,813

+    8,479

-   81,601

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,456,760

   188,463

 4,282,084

   134,052

   303,692

   838,547

   587,938

   536,221

   125,590

    60,846

   106,768

   413,027

   879,531

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, May 17, 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

 2,283,328

    79,115

   731,816

    52,223

   111,848

   173,316

   354,532

   123,577

    70,429

    33,089

    48,986

   188,967

   315,430

Reverse repurchase agreements6

 2,598,627

    50,205

 1,451,204

    42,829

    79,857

   180,837

   176,042

   161,989

    38,873

    17,620

    33,598

   126,701

   238,873

Deposits

 3,565,383

    46,249

 2,116,106

    37,695

   109,083

   481,632

    55,424

   252,593

    15,251

     9,874

    23,734

    97,102

   320,640

Depository institutions

 3,279,987

    46,239

 1,987,066

    37,694

   109,054

   481,090

    55,396

    97,129

    15,243

     9,817

    23,666

    97,003

   320,589

U.S. Treasury, General Account

    68,332

         0

    68,332

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,685

         2

     9,659

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   207,379

         9

    51,047

         0

        25

       534

        27

   155,462

         8

        57

        68

        97

        45

Earnings remittances due to the U.S. Treasury8

   -59,660

    -1,134

   -41,192

      -419

    -1,463

    -7,133

       -15

    -4,701

       -76

      -125

      -202

      -967

    -2,232

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

    11,332

       770

     5,388

       218

       389

     1,420

       631

       742

       151

       120

       193

       353

       958

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,414,358

   186,658

 4,267,216

   132,546

   299,713

   830,071

   586,613

   534,200

   124,629

    60,578

   106,309

   412,157

   873,668

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,617

     1,513

    12,454

     1,262

     3,339

     7,102

     1,122

     1,784

       808

       226

       388

       727

     4,891

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

 8,456,760

   188,463

 4,282,084

   134,052

   303,692

   838,547

   587,938

   536,221

   125,590

    60,846

   106,768

   413,027

   879,531

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, May 17, 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

May 17, 2023

Federal Reserve notes outstanding

 2,650,264

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

   366,936

Federal Reserve notes to be collateralized

 2,283,328

Collateral held against Federal Reserve notes

 2,283,328

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,267,092

Other assets pledged

         0

Memo:

 

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

 7,771,391

Less: Face value of securities under reverse repurchase agreements

 2,768,601

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

 5,002,790

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: May 18, 2023