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Release Date: January 11, 2024

 

 

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
Jan 10, 2024

Week ended
Jan 10, 2024

Change from week ended

Jan 3, 2024

Jan 11, 2023

Reserve Bank credit

 7,647,129

-   12,500

-  824,296

 7,650,295

Securities held outright1

 7,185,845

-   24,332

-  914,584

 7,185,635

U.S. Treasury securities

 4,751,725

-   24,332

-  704,955

 4,751,515

Bills2

   215,322

-    1,596

-   73,037

   215,192

Notes and bonds, nominal2

 4,057,147

-   22,524

-  630,995

 4,057,147

Notes and bonds, inflation-indexed2

   365,578

         0

-   11,838

   365,578

Inflation compensation3

   113,678

-      212

+   10,915

   113,598

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,431,773

         0

-  209,629

 2,431,773

Unamortized premiums on securities held outright5

   278,295

-      544

-   34,856

   278,115

Unamortized discounts on securities held outright5

   -25,805

+       87

+    1,733

   -25,717

Repurchase agreements6

         0

         0

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

         0

         0

         0

Loans

   150,362

+   11,063

+  135,167

   152,694

Primary credit

     2,072

-      934

-    1,740

     2,106

Secondary credit

        33

+       31

+       33

         0

Seasonal credit

         0

-       16

         0

         0

Paycheck Protection Program Liquidity Facility

     3,417

-       33

-    7,966

     3,413

Bank Term Funding Program

   144,841

+   12,016

+  144,841

   147,175

Other credit extensions7

         0

         0

         0

         0

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

    16,176

+       13

-    6,465

    16,192

Net portfolio holdings of Municipal Liquidity Facility LLC8

       214

+        1

-    5,358

       214

Net portfolio holdings of TALF II LLC8

        46

         0

-    1,911

        46

Float

      -236

+      343

-       79

      -320

Central bank liquidity swaps9

       223

-    1,134

+       32

       223

Other Federal Reserve assets10

    42,010

+    2,004

+    2,027

    43,214

Foreign currency denominated assets11

    18,394

-      237

-      153

    18,350

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,630

+       14

+      579

    52,630

 

 

 

 

 

Total factors supplying reserve funds

 7,734,394

-   12,723

-  823,870

 7,737,516

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
Jan 10, 2024

Week ended
Jan 10, 2024

Change from week ended

Jan 3, 2024

Jan 11, 2023

Currency in circulation12

 2,343,923

-    3,852

+   40,808

 2,340,501

Reverse repurchase agreements13

 1,050,606

-  222,443

-1,494,300

 1,041,144

Foreign official and international accounts

   365,487

-    3,524

+   28,425

   361,183

Others

   685,118

-  218,920

-1,522,727

   679,961

Treasury cash holdings

       390

-        5

+      288

       395

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

   916,039

-   23,133

+  330,991

   892,937

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   747,565

-   10,883

+  375,225

   727,856

Foreign official

    10,240

+      548

+    1,305

     9,692

Other14

   158,235

-   12,797

-   45,538

   155,389

Treasury contributions to credit facilities15

     7,438

         0

-    7,909

     7,438

Other liabilities and capital16

   -82,751

+      857

-  111,259

   -82,282

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,235,646

-  248,575

-1,241,381

 4,200,134

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,498,748

+  235,853

+  417,511

 3,537,383

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
Jan 10, 2024

Week ended
Jan 10, 2024

Change from week ended

Jan 3, 2024

Jan 11, 2023

Securities held in custody for foreign official and international accounts

 3,383,684

-    5,033

+   52,141

 3,381,310

Marketable U.S. Treasury securities1

 2,956,545

-    4,970

+   33,871

 2,954,143

Federal agency debt and mortgage-backed securities2

   343,640

-      148

+   15,891

   343,575

Other securities3

    83,500

+       86

+    2,380

    83,592

Securities lent to dealers

    32,334

-   10,650

-   10,644

    33,006

Overnight facility4

    32,334

-   10,650

-   10,644

    33,006

U.S. Treasury securities

    32,334

-   10,650

-   10,623

    33,006

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, January 10, 2024

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

     1,300

    51,225

    96,760

     3,409

         0

...

   152,694

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    59,873

   245,629

   554,436

 1,614,845

   771,654

 1,505,076

 4,751,515

Weekly changes

+    2,649

-    3,718

-      545

-       93

-       50

-       60

-    1,815

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

         1

        23

     5,339

    32,049

 2,394,360

 2,431,773

Weekly changes

         0

         0

         0

         0

+      145

-      145

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

     7,678

...

...

     7,678

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

       223

         0

         0

         0

         0

         0

       223

Reverse repurchase agreements6

 1,041,144

         0

...

...

...

...

 1,041,144

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

Jan 10, 2024

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 Jan 10, 2024

 

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

     7,165

     9,027

    16,192

Municipal Liquidity Facility LLC

         0

         0

       214

       214

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
Jan 10, 2024

Change since

Wednesday

Wednesday

Jan 3, 2024

Jan 11, 2023

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,448

+       22

+      232

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

 

 7,590,728

+    3,628

-  810,132

Securities held outright1

 

 7,185,635

-    1,815

-  914,540

U.S. Treasury securities

 

 4,751,515

-    1,815

-  704,911

Bills2

 

   215,192

-    1,596

-   73,007

Notes and bonds, nominal2

 

 4,057,147

         0

-  630,941

Notes and bonds, inflation-indexed2

 

   365,578

         0

-   11,838

Inflation compensation3

 

   113,598

-      218

+   10,875

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,431,773

         0

-  209,629

Unamortized premiums on securities held outright5

 

   278,115

-      512

-   34,823

Unamortized discounts on securities held outright5

 

   -25,717

+       81

+    1,744

Repurchase agreements6

 

         0

         0

         0

Loans7

 

   152,694

+    5,874

+  137,487

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

 

    16,192

+       19

-    6,467

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

       214

+        1

-    5,360

Net portfolio holdings of TALF II LLC8

 

        46

         0

-    1,912

Items in process of collection

(0)

        60

-       32

-        1

Bank premises

 

       432

+        3

-       36

Central bank liquidity swaps9

 

       223

-    1,134

+       32

Foreign currency denominated assets10

 

    18,350

-       35

-      273

Other assets11

 

    42,782

+    3,215

+    2,040

 

 

 

 

 

Total assets

(0)

 7,686,710

+    5,686

-  821,877

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
Jan 10, 2024

Change since

Wednesday

Wednesday

Jan 3, 2024

Jan 11, 2023

Liabilities

 

 

 

 

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

 

 2,289,710

-    7,722

+   40,836

Reverse repurchase agreements12

 

 1,041,144

-   44,831

-1,506,662

Deposits

(0)

 4,430,320

+   57,024

+  762,611

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,537,383

+   77,974

+  420,552

U.S. Treasury, General Account

 

   727,856

-   15,608

+  381,430

Foreign official

 

     9,692

+        1

+      757

Other13

(0)

   155,389

-    5,342

-   40,128

Deferred availability cash items

(0)

       380

-      449

+      156

Treasury contributions to credit facilities14

 

     7,438

         0

-    7,909

Other liabilities and accrued dividends15

 

  -125,133

+    1,665

-  111,935

 

 

 

 

 

Total liabilities

(0)

 7,643,860

+    5,686

-  822,901

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    36,065

         0

+    1,024

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,850

         0

+    1,024

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, January 10, 2024

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

     1,448

        49

        38

       134

        54

       179

       105

       261

        34

        53

        97

       181

       263

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

 7,590,728

   150,418

 4,164,761

   125,001

   232,292

   529,686

   516,170

   473,614

   119,670

    59,877

   107,661

   377,647

   733,929

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    16,192

    16,192

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

       214

         0

       214

         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

       223

        10

        79

         8

        21

        45

         7

         8

         5

         1

         2

         5

        32

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,350

       790

     6,530

       659

     1,730

     3,715

       550

       639

       413

       116

       195

       387

     2,626

Other assets5

    43,273

     1,000

    20,335

       802

     1,334

     3,333

     4,295

     2,575

       818

       669

     1,028

     2,252

     4,831

Interdistrict settlement account

         0

+    1,283

-   57,137

-   16,405

+   60,843

+  143,667

-   35,686

-   84,004

-    9,452

-    6,692

-   14,951

-   54,141

+   72,673

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 7,686,710

   170,299

 4,140,040

   110,725

   297,027

   681,813

   487,727

   394,197

   111,967

    54,289

    94,485

   327,621

   816,519

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, January 10, 2024 (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

 2,289,710

    79,823

   745,234

    50,407

   109,598

   160,451

   355,128

   122,756

    72,879

    32,846

    47,651

   188,656

   324,282

Reverse repurchase agreements6

 1,041,144

    20,115

   581,427

    17,159

    31,995

    72,453

    70,531

    64,901

    15,575

     7,059

    13,461

    50,763

    95,705

Deposits

 4,430,320

    62,229

 2,880,628

    42,724

   155,751

   460,191

    59,945

   213,764

    22,459

    14,213

    33,222

    88,581

   396,612

Depository institutions

 3,537,383

    62,174

 2,088,919

    42,722

   155,719

   459,943

    59,918

   113,129

    22,450

    14,149

    33,190

    88,496

   396,572

U.S. Treasury, General Account

   727,856

         0

   727,856

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,692

         2

     9,666

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   155,389

        52

    54,186

         0

        28

       241

        26

   100,633

         8

        64

        32

        84

        34

Earnings remittances due to the U.S. Treasury8

  -136,865

    -2,617

   -87,479

    -1,286

    -5,230

   -21,132

        34

    -9,911

       -70

      -220

      -511

    -1,722

    -6,723

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

    12,112

     1,515

     5,347

       206

       435

     1,361

       703

       681

       159

       122

       196

       332

     1,055

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 7,643,860

   168,503

 4,125,157

   109,211

   292,550

   673,323

   486,342

   392,190

   111,002

    54,021

    94,019

   326,610

   810,931

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 7,686,710

   170,299

 4,140,040

   110,725

   297,027

   681,813

   487,727

   394,197

   111,967

    54,289

    94,485

   327,621

   816,519

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, January 10, 2024 (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

Jan 10, 2024

Federal Reserve notes outstanding

 2,706,609

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

   416,899

Federal Reserve notes to be collateralized

 2,289,710

Collateral held against Federal Reserve notes

 2,289,710

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,273,473

Other assets pledged

         0

Memo:

 

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

 7,185,635

Less: Face value of securities under reverse repurchase agreements

 1,186,710

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

 5,998,925

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: January 11, 2024