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Release Date: January 18, 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 17, 2024

Week ended
Jan 17, 2024

Change from week ended

Jan 10, 2024

Jan 18, 2023

Reserve Bank credit

 7,649,671

+    2,542

-  817,458

 7,637,593

Securities held outright1

 7,176,824

-    9,021

-  916,703

 7,158,081

U.S. Treasury securities

 4,742,722

-    9,003

-  707,474

 4,724,025

Bills2

   213,876

-    1,446

-   73,490

   213,749

Notes and bonds, nominal2

 4,051,837

-    5,310

-  631,828

 4,038,372

Notes and bonds, inflation-indexed2

   364,048

-    1,530

-   12,672

   360,222

Inflation compensation3

   112,961

-      717

+   10,516

   111,681

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,431,755

-       18

-  209,229

 2,431,710

Unamortized premiums on securities held outright5

   277,735

-      560

-   34,743

   277,567

Unamortized discounts on securities held outright5

   -25,690

+      115

+    1,783

   -25,618

Repurchase agreements6

         1

+        1

         0

         0

Foreign official

         0

         0

         0

         0

Others

         1

+        1

         0

         0

Loans

   159,731

+    9,369

+  144,272

   167,161

Primary credit

     2,170

+       98

-    1,984

     2,295

Secondary credit

        29

-        4

+       28

         0

Seasonal credit

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

     3,370

-       47

-    7,935

     3,364

Bank Term Funding Program

   154,161

+    9,320

+  154,161

   161,501

Other credit extensions7

         0

         0

         0

         0

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

    15,959

-      217

-    6,590

    15,375

Net portfolio holdings of Municipal Liquidity Facility LLC8

       214

         0

-    5,360

       214

Net portfolio holdings of TALF II LLC8

        46

         0

-    1,913

        46

Float

      -238

-        2

-       65

      -273

Central bank liquidity swaps9

       216

-        7

+       18

       216

Other Federal Reserve assets10

    44,874

+    2,864

+    1,843

    44,825

Foreign currency denominated assets11

    18,318

-       76

-      623

    18,129

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,644

+       14

+      585

    52,644

 

 

 

 

 

Total factors supplying reserve funds

 7,736,874

+    2,480

-  817,497

 7,724,607

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 17, 2024

Week ended
Jan 17, 2024

Change from week ended

Jan 10, 2024

Jan 18, 2023

Currency in circulation12

 2,337,966

-    5,957

+   40,780

 2,335,971

Reverse repurchase agreements13

   949,705

-  100,901

-1,572,597

   936,323

Foreign official and international accounts

   347,973

-   17,514

-   10,455

   346,132

Others

   601,733

-   83,385

-1,562,141

   590,191

Treasury cash holdings

       397

+        7

+      290

       407

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

   918,121

+    2,082

+  370,450

   940,521

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   748,883

+    1,318

+  409,865

   773,544

Foreign official

     9,692

-      548

+      757

     9,690

Other14

   159,547

+    1,312

-   40,171

   157,288

Treasury contributions to credit facilities15

     7,438

         0

-    7,909

     7,438

Other liabilities and capital16

   -88,473

-    5,722

-  112,899

   -88,380

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,125,155

-  110,491

-1,281,884

 4,132,281

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,611,719

+  112,971

+  464,387

 3,592,326

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 17, 2024

Week ended
Jan 17, 2024

Change from week ended

Jan 10, 2024

Jan 18, 2023

Securities held in custody for foreign official and international accounts

 3,379,089

-    4,595

+   48,525

 3,374,607

Marketable U.S. Treasury securities1

 2,952,004

-    4,541

+   30,439

 2,948,171

Federal agency debt and mortgage-backed securities2

   343,596

-       44

+   15,705

   343,567

Other securities3

    83,488

-       12

+    2,379

    82,869

Securities lent to dealers

    29,081

-    3,253

-   10,945

    32,431

Overnight facility4

    29,081

-    3,253

-   10,945

    32,431

U.S. Treasury securities

    29,081

-    3,253

-   10,924

    32,431

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 17, 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

     3,016

    49,000

   111,785

     3,360

         0

...

   167,161

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    67,690

   250,063

   556,572

 1,594,890

   749,792

 1,505,016

 4,724,025

Weekly changes

+    7,817

+    4,434

+    2,136

-   19,955

-   21,862

-       60

-   27,490

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

 2,394,297

 2,431,710

Weekly changes

         0

         0

         0

         0

         0

-       63

-       63

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

     7,634

...

...

     7,634

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

       216

         0

         0

         0

         0

         0

       216

Reverse repurchase agreements6

   936,323

         0

...

...

...

...

   936,323

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 17, 2024

Mortgage-backed securities held outright1

 2,431,710

Residential mortgage-backed securities

 2,423,485

Commercial mortgage-backed securities

     8,225

 

 

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 17, 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)

     6,620

     7,122

     8,253

    15,375

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 17, 2024

Change since

Wednesday

Wednesday

Jan 10, 2024

Jan 18, 2023

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,462

+       14

+      227

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

 

 7,577,191

-   13,537

-  802,546

Securities held outright1

 

 7,158,081

-   27,554

-  920,929

U.S. Treasury securities

 

 4,724,025

-   27,490

-  712,697

Bills2

 

   213,749

-    1,443

-   73,482

Notes and bonds, nominal2

 

 4,038,372

-   18,775

-  634,235

Notes and bonds, inflation-indexed2

 

   360,222

-    5,356

-   14,757

Inflation compensation3

 

   111,681

-    1,917

+    9,775

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,431,710

-       63

-  208,230

Unamortized premiums on securities held outright5

 

   277,567

-      548

-   34,689

Unamortized discounts on securities held outright5

 

   -25,618

+       99

+    1,789

Repurchase agreements6

 

         0

         0

-        1

Loans7

 

   167,161

+   14,467

+  151,284

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

 

    15,375

-      817

-    6,895

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

       214

         0

-    5,362

Net portfolio holdings of TALF II LLC8

 

        46

         0

-    1,914

Items in process of collection

(0)

        47

-       13

-       38

Bank premises

 

       434

+        2

-       42

Central bank liquidity swaps9

 

       216

-        7

+       18

Foreign currency denominated assets10

 

    18,129

-      221

-      817

Other assets11

 

    44,391

+    1,609

+    2,071

 

 

 

 

 

Total assets

(0)

 7,673,741

-   12,969

-  815,298

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 17, 2024

Change since

Wednesday

Wednesday

Jan 10, 2024

Jan 18, 2023

Liabilities

 

 

 

 

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

 

 2,285,191

-    4,519

+   40,322

Reverse repurchase agreements12

 

   936,323

-  104,821

-1,566,939

Deposits

(0)

 4,532,848

+  102,528

+  831,670

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,592,327

+   54,944

+  474,090

U.S. Treasury, General Account

 

   773,544

+   45,688

+  396,044

Foreign official

 

     9,690

-        2

+      756

Other13

(0)

   157,288

+    1,899

-   39,220

Deferred availability cash items

(0)

       320

-       60

+       27

Treasury contributions to credit facilities14

 

     7,438

         0

-    7,909

Other liabilities and accrued dividends15

 

  -131,230

-    6,097

-  113,494

 

 

 

 

 

Total liabilities

(0)

 7,630,890

-   12,970

-  816,323

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    36,066

+        1

+    1,025

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,851

+        1

+    1,025

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 17, 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

     1,462

        49

        37

       136

        54

       181

       107

       261

        34

        55

        98

       187

       264

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

 7,577,191

   153,452

 4,149,969

   125,212

   232,261

   528,170

   515,578

   473,223

   119,384

    60,023

   108,406

   377,049

   734,464

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    15,375

    15,375

         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

       216

         9

        77

         8

        20

        44

         6

         8

         5

         1

         2

         5

        31

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,129

       780

     6,451

       651

     1,709

     3,670

       543

       631

       408

       115

       192

       382

     2,594

Other assets5

    44,872

     1,019

    21,380

       813

     1,384

     3,414

     4,375

     2,673

       840

       639

     1,014

     2,324

     4,998

Interdistrict settlement account

         0

+    5,683

-   30,246

-   14,936

+   48,666

+  149,056

-   44,945

-   84,664

-   10,708

-    8,306

-   18,499

-   57,578

+   66,476

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 7,673,741

   176,925

 4,153,103

   112,409

   284,847

   685,722

   477,952

   393,234

   110,441

    52,790

    91,666

   323,658

   810,993

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 17, 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

 2,285,191

    80,020

   745,241

    50,117

   108,829

   160,071

   354,367

   122,649

    72,777

    32,710

    47,553

   188,086

   322,771

Reverse repurchase agreements6

   936,323

    18,090

   522,890

    15,432

    28,774

    65,158

    63,430

    58,367

    14,007

     6,349

    12,106

    45,652

    86,069

Deposits

 4,532,848

    70,813

 2,955,677

    46,501

   147,858

   472,582

    58,165

   219,806

    22,636

    13,581

    31,908

    90,410

   402,911

Depository institutions

 3,592,327

    70,759

 2,117,977

    46,499

   147,824

   472,338

    58,137

   117,595

    22,627

    13,524

    31,878

    90,289

   402,879

U.S. Treasury, General Account

   773,544

         0

   773,544

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,690

         2

     9,664

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   157,288

        53

    54,492

         0

        30

       236

        26

   102,210

         8

        56

        29

       121

        26

Earnings remittances due to the U.S. Treasury8

  -139,461

    -2,672

   -88,954

    -1,315

    -5,374

   -21,568

        36

   -10,052

       -78

      -225

      -531

    -1,733

    -6,996

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

     8,551

     1,439

     3,367

       160

       282

       990

       568

       457

       134

       107

       164

       232

       650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 7,630,890

   175,128

 4,138,220

   110,895

   280,369

   677,233

   476,567

   391,228

   109,476

    52,522

    91,200

   322,648

   805,405

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    36,066

     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

 7,673,741

   176,925

 4,153,103

   112,409

   284,847

   685,722

   477,952

   393,234

   110,441

    52,790

    91,666

   323,658

   810,993

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 17, 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 17, 2024

Federal Reserve notes outstanding

 2,705,279

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

   420,088

Federal Reserve notes to be collateralized

 2,285,191

Collateral held against Federal Reserve notes

 2,285,191

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,268,954

Other assets pledged

         0

Memo:

 

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

 7,158,081

Less: Face value of securities under reverse repurchase agreements

 1,076,376

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

 6,081,705

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 18, 2024