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Release Date: December 28, 2023

 

 

For Release at

4:30 P.M. Eastern time

December 28, 2023

 

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks," has been modified to reflect returning the remainder of the Treasury's equity investment in the Municipal Liquidity Facility LLC (MLF) and in the TALF II LLC (TALF II), which occurred on December 22, 2023. Footnotes in Factors Affecting Reserve Balances of Depository Institutions (table 1), Maturity Distribution of Securities, Loans and Selected Other Assets and Liabilities (table 2), Information on Principal Accounts of Credit Facilities LLCs (table 4), Consolidated Statement of Condition of All Federal Reserve Banks (table 5), and Statement of Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

 


 

 

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
Dec 27, 2023

Week ended
Dec 27, 2023

Change from week ended

Dec 20, 2023

Dec 28, 2022

Reserve Bank credit

 7,684,978

-    6,052

-  840,718

 7,675,996

Securities held outright1

 7,233,658

-    9,958

-  919,459

 7,224,667

U.S. Treasury securities

 4,791,167

-    3,731

-  709,758

 4,790,547

Bills2

   222,962

-    1,727

-   68,455

   222,354

Notes and bonds, nominal2

 4,088,681

-    1,960

-  640,837

 4,088,681

Notes and bonds, inflation-indexed2

   365,578

         0

-   11,838

   365,578

Inflation compensation3

   113,946

-       44

+   11,373

   113,933

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,440,144

-    6,227

-  209,701

 2,431,773

Unamortized premiums on securities held outright5

   279,527

-      807

-   35,049

   279,171

Unamortized discounts on securities held outright5

   -25,968

+      311

+    1,387

   -25,884

Repurchase agreements6

         2

         0

+        2

         0

Foreign official

         0

         0

         0

         0

Others

         2

+        1

+        2

         0

Loans

   139,648

+    4,991

+  123,506

   141,785

Primary credit

     2,507

+      322

-    2,059

     2,492

Secondary credit

         0

         0

         0

         0

Seasonal credit

        29

-        1

+       20

        22

Paycheck Protection Program Liquidity Facility

     3,474

-       79

-    8,093

     3,467

Bank Term Funding Program

   133,638

+    4,749

+  133,638

   135,805

Other credit extensions7

         0

         0

         0

         0

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

    16,139

-       60

-    6,460

    16,156

Net portfolio holdings of Municipal Liquidity Facility LLC8

       213

-    2,903

-    5,354

       213

Net portfolio holdings of TALF II LLC8

        46

-      152

-    1,937

        46

Float

      -245

-       11

-       45

      -267

Central bank liquidity swaps9

     1,359

+    1,124

+      947

     1,359

Other Federal Reserve assets10

    40,598

+    1,413

+    1,742

    38,750

Foreign currency denominated assets11

    18,551

+      101

+       85

    18,669

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,602

+       14

+      563

    52,602

 

 

 

 

 

Total factors supplying reserve funds

 7,772,371

-    5,937

-  840,071

 7,763,508

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
Dec 27, 2023

Week ended
Dec 27, 2023

Change from week ended

Dec 20, 2023

Dec 28, 2022

Currency in circulation12

 2,340,523

+    8,526

+   36,531

 2,344,610

Reverse repurchase agreements13

 1,132,915

+   70,326

-1,443,029

 1,165,574

Foreign official and international accounts

   350,023

+   15,440

+    3,015

   346,705

Others

   782,891

+   54,886

-1,446,045

   818,869

Treasury cash holdings

       394

-        3

+      291

       396

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

   920,433

+    5,467

+  255,502

   887,342

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   731,405

-      791

+  303,479

   713,064

Foreign official

     9,690

+        1

+    1,221

     9,690

Other14

   179,338

+    6,256

-   49,198

   164,588

Treasury contributions to credit facilities15

     7,849

-    2,462

-    7,498

     7,438

Other liabilities and capital16

   -76,201

+    1,857

-  110,436

   -76,066

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,325,913

+   83,710

-1,268,640

 4,329,295

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,446,459

-   89,646

+  428,570

 3,434,213

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 outstanding loans 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 $7.4 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
Dec 27, 2023

Week ended
Dec 27, 2023

Change from week ended

Dec 20, 2023

Dec 28, 2022

Securities held in custody for foreign official and international accounts

 3,385,740

-    1,286

+   67,558

 3,394,130

Marketable U.S. Treasury securities1

 2,958,250

-      200

+   49,380

 2,966,930

Federal agency debt and mortgage-backed securities2

   344,077

-    1,169

+   16,152

   343,804

Other securities3

    83,413

+       83

+    2,026

    83,396

Securities lent to dealers

    32,622

-      985

-   14,644

    38,439

Overnight facility4

    32,622

-      985

-   14,644

    38,439

U.S. Treasury securities

    32,622

-      985

-   14,623

    38,439

Federal agency debt securities

         0

         0

-       21

         0

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, December 27, 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

     2,658

    42,795

    92,870

     3,463

         0

...

   141,785

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    65,252

   240,389

   572,986

 1,627,413

   779,339

 1,505,168

 4,790,547

Weekly changes

+    6,576

-    6,908

-    1,410

-       18

-       10

-       12

-    1,782

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

         0

        23

     4,895

    32,350

 2,394,505

 2,431,773

Weekly changes

         0

-        1

-        4

-      108

-    4,663

-    6,944

-   11,719

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

     7,923

...

...

     7,923

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

     1,359

         0

         0

         0

         0

         0

     1,359

Reverse repurchase agreements6

 1,165,574

         0

...

...

...

...

 1,165,574

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. Loans exclude the loans from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBB's statement of condition, 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.

Cash value of agreements.

7.

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

Dec 27, 2023

Mortgage-backed securities held outright1

 2,431,773

Residential mortgage-backed securities

 2,423,545

Commercial mortgage-backed securities

     8,228

 

 

Commitments to buy mortgage-backed securities2

         0

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 Dec 27, 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)

     7,434

     7,411

     8,745

    16,156

Municipal Liquidity Facility LLC

         0

         0

       213

       213

TALF II LLC

         0

         0

        46

        46

Note: Components may not sum to totals because of rounding.
 

1.

Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve Bank to the LLC upon settlement of the investment activity.

2.

Outstanding amount of facility asset purchases:

 

a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 

    updated as of September 30, 2023.

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. 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
Dec 27, 2023

Change since

Wednesday

Wednesday

Dec 20, 2023

Dec 28, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,422

-       14

+      227

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

 

 7,619,739

-    9,539

-  827,862

Securities held outright1

 

 7,224,667

-   13,501

-  919,915

U.S. Treasury securities

 

 4,790,547

-    1,782

-  710,287

Bills2

 

   222,354

-    1,741

-   68,838

Notes and bonds, nominal2

 

 4,088,681

         0

-  640,837

Notes and bonds, inflation-indexed2

 

   365,578

         0

-   11,838

Inflation compensation3

 

   113,933

-       42

+   11,226

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,431,773

-   11,719

-  209,629

Unamortized premiums on securities held outright5

 

   279,171

-      865

-   35,007

Unamortized discounts on securities held outright5

 

   -25,884

+      305

+    1,404

Repurchase agreements6

 

         0

         0

         0

Loans7

 

   141,785

+    4,523

+  125,656

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

 

    16,156

+       20

-    6,461

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

       213

-    2,482

-    5,356

Net portfolio holdings of TALF II LLC8

 

        46

-      123

-    1,938

Items in process of collection

(0)

       190

+      124

+       90

Bank premises

 

       438

-        3

-       35

Central bank liquidity swaps9

 

     1,359

+    1,124

+      947

Foreign currency denominated assets10

 

    18,669

+      257

+      267

Other assets11

 

    38,312

-      645

+    1,733

 

 

 

 

 

Total assets

(0)

 7,712,781

-   11,282

-  838,388

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
Dec 27, 2023

Change since

Wednesday

Wednesday

Dec 20, 2023

Dec 28, 2022

Liabilities

 

 

 

 

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

 

 2,293,821

+    8,659

+   36,650

Reverse repurchase agreements12

 

 1,165,574

+   41,372

-1,461,578

Deposits

(0)

 4,321,556

-   60,191

+  704,504

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,434,214

-   43,074

+  454,472

U.S. Treasury, General Account

 

   713,064

-   19,657

+  303,255

Foreign official

 

     9,690

+        2

+    1,256

Other13

(0)

   164,588

+    2,538

-   54,480

Deferred availability cash items

(0)

       457

+      129

-      170

Treasury contributions to credit facilities14

 

     7,438

-    2,873

-    7,909

Other liabilities and accrued dividends15

 

  -118,915

+    1,621

-  110,935

 

 

 

 

 

Total liabilities

(0)

 7,669,932

-   11,281

-  839,438

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    36,065

         0

+    1,051

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,850

         0

+    1,051

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 $7.4 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, December 27, 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

     1,422

        48

        39

       134

        54

       177

       102

       249

        33

        54

        96

       178

       259

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

 7,619,739

   150,838

 4,185,516

   125,900

   232,988

   531,581

   517,503

   475,635

   119,917

    58,455

   106,673

   379,167

   735,567

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    16,156

    16,156

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

       213

         0

       213

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

        46

         0

        46

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

     1,359

        58

       483

        49

       128

       275

        41

        47

        31

         9

        14

        29

       194

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,669

       803

     6,644

       671

     1,760

     3,780

       560

       650

       420

       118

       198

       394

     2,671

Other assets5

    38,941

       905

    17,959

       741

     1,200

     2,944

     4,131

     2,307

       723

       613

       981

     2,029

     4,407

Interdistrict settlement account

         0

+   14,015

-   60,877

-   17,057

+   51,367

+  111,030

-   31,728

-   68,990

-    7,725

-    5,727

-   12,650

-   46,911

+   75,253

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 7,712,781

   183,381

 4,155,197

   110,963

   288,249

   650,973

   492,896

   411,003

   113,878

    53,786

    95,764

   336,175

   820,518

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, December 27, 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

 2,293,821

    79,769

   745,273

    50,330

   109,943

   160,782

   355,934

   123,235

    72,911

    32,918

    47,812

   189,753

   325,160

Reverse repurchase agreements6

 1,165,574

    22,519

   650,915

    19,210

    35,818

    81,112

    78,961

    72,658

    17,436

     7,903

    15,070

    56,830

   107,143

Deposits

 4,321,556

    72,820

 2,822,835

    40,892

   142,430

   419,408

    55,768

   221,992

    22,456

    12,776

    32,676

    89,895

   387,607

Depository institutions

 3,434,214

    72,765

 2,044,114

    40,891

   142,399

   419,185

    55,740

   114,107

    22,438

    12,603

    32,646

    89,755

   387,572

U.S. Treasury, General Account

   713,064

         0

   713,064

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,690

         2

     9,665

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   164,588

        53

    55,993

         0

        27

       215

        27

   107,883

        17

       173

        30

       140

        29

Earnings remittances due to the U.S. Treasury8

  -131,518

    -2,483

   -84,510

    -1,216

    -4,911

   -20,343

        49

    -9,601

       -62

      -206

      -473

    -1,657

    -6,105

Treasury contributions to credit facilities9

     7,438

     7,438

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    13,060

     1,521

     5,801

       233

       493

     1,524

       798

       713

       172

       125

       214

       344

     1,124

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 7,669,932

   181,584

 4,140,314

   109,449

   283,772

   642,484

   491,510

   408,996

   112,914

    53,517

    95,299

   335,165

   814,929

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    36,065

     1,505

    12,469

     1,270

     3,837

     7,116

     1,182

     1,770

       812

       226

       393

       867

     4,617

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

 7,712,781

   183,381

 4,155,197

   110,963

   288,249

   650,973

   492,896

   411,003

   113,878

    53,786

    95,764

   336,175

   820,518

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, December 27, 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 $7.4 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

Dec 27, 2023

Federal Reserve notes outstanding

 2,707,134

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

   413,313

Federal Reserve notes to be collateralized

 2,293,821

Collateral held against Federal Reserve notes

 2,293,821

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,277,584

Other assets pledged

         0

Memo:

 

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

 7,224,667

Less: Face value of securities under reverse repurchase agreements

 1,298,611

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

 5,926,055

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: December 28, 2023