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Release Date: February 08, 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
Feb 7, 2024

Week ended
Feb 7, 2024

Change from week ended

Jan 31, 2024

Feb 8, 2023

Reserve Bank credit

 7,594,103

-   24,944

-  803,483

 7,595,102

Securities held outright1

 7,112,153

-   23,785

-  912,086

 7,112,112

U.S. Treasury securities

 4,692,649

-   23,786

-  704,508

 4,692,608

Bills2

   210,353

-       83

-   74,668

   210,353

Notes and bonds, nominal2

 4,010,894

-   23,553

-  624,843

 4,010,894

Notes and bonds, inflation-indexed2

   360,222

         0

-   14,757

   360,222

Inflation compensation3

   111,180

-      150

+    9,760

   111,138

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,417,156

         0

-  207,579

 2,417,156

Unamortized premiums on securities held outright5

   275,722

-      532

-   34,407

   275,555

Unamortized discounts on securities held outright5

   -25,608

-       46

+    1,939

   -25,523

Repurchase agreements6

         0

-        1

         0

         0

Foreign official

         0

         0

         0

         0

Others

         0

-        1

         0

         0

Loans

   170,551

-    2,214

+  155,449

   170,501

Primary credit

     2,397

-      309

-    1,679

     2,334

Secondary credit

         0

         0

         0

         0

Seasonal credit

         0

         0

         0

         0

Paycheck Protection Program Liquidity Facility

     3,303

-       21

-    7,723

     3,298

Bank Term Funding Program

   164,851

-    1,884

+  164,851

   164,869

Other credit extensions7

         0

         0

         0

         0

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

    15,086

+       18

-    7,516

    15,103

Net portfolio holdings of Municipal Liquidity Facility LLC8

         1

         0

-    5,580

         1

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,948

         0

Float

      -266

+      154

-      108

      -321

Central bank liquidity swaps9

       230

+       11

-      208

       230

Other Federal Reserve assets10

    46,234

+    1,450

+      983

    47,444

Foreign currency denominated assets11

    18,094

-       71

-      699

    18,067

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    52,686

+       14

+      605

    52,686

 

 

 

 

 

Total factors supplying reserve funds

 7,681,124

-   25,001

-  803,576

 7,682,096

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
Feb 7, 2024

Week ended
Feb 7, 2024

Change from week ended

Jan 31, 2024

Feb 8, 2023

Currency in circulation12

 2,326,682

-      537

+   28,710

 2,327,380

Reverse repurchase agreements13

   865,279

-   58,717

-1,545,443

   890,179

Foreign official and international accounts

   339,337

-    6,843

-   19,451

   337,124

Others

   525,942

-   51,874

-1,525,992

   553,055

Treasury cash holdings

       414

+        6

+      318

       422

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

   975,195

-   40,205

+  273,789

   993,399

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   802,135

-   39,415

+  308,858

   821,575

Foreign official

     9,689

-        1

+      254

     9,691

Other14

   163,370

-      790

-   35,324

   162,134

Treasury contributions to credit facilities15

     7,438

         0

-    7,909

     7,438

Other liabilities and capital16

   -93,207

+    1,360

-  114,780

   -92,460

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 4,081,801

-   98,094

-1,365,315

 4,126,358

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,599,323

+   73,093

+  561,739

 3,555,738

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
Feb 7, 2024

Week ended
Feb 7, 2024

Change from week ended

Jan 31, 2024

Feb 8, 2023

Securities held in custody for foreign official and international accounts

 3,359,821

+   15,439

+   27,769

 3,363,394

Marketable U.S. Treasury securities1

 2,939,650

+   15,962

+   15,022

 2,943,218

Federal agency debt and mortgage-backed securities2

   337,889

-        8

+   11,224

   337,884

Other securities3

    82,282

-      516

+    1,522

    82,291

Securities lent to dealers

    32,915

+      338

-    5,422

    30,947

Overnight facility4

    32,915

+      338

-    5,422

    30,947

U.S. Treasury securities

    32,915

+      338

-    5,403

    30,947

Federal agency debt securities

         0

         0

-       19

         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, February 7, 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

     1,386

    62,721

   103,100

     3,294

         0

...

   170,501

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    82,267

   230,601

   552,753

 1,580,352

   741,769

 1,504,865

 4,692,608

Weekly changes

-      951

+    1,143

+   22,032

-   22,285

-       21

-       32

-      113

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

        32

     5,571

    31,570

 2,379,983

 2,417,156

Weekly changes

         0

         0

+       13

+      334

+      171

-      518

         0

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

     7,472

...

...

     7,472

Repurchase agreements6

         0

         0

...

...

...

...

         0

Central bank liquidity swaps7

       230

         0

         0

         0

         0

         0

       230

Reverse repurchase agreements6

   890,179

         0

...

...

...

...

   890,179

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

Feb 7, 2024

Mortgage-backed securities held outright1

 2,417,156

Residential mortgage-backed securities

 2,408,936

Commercial mortgage-backed securities

     8,221

 

 

Commitments to buy mortgage-backed securities2

       149

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 Feb 7, 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

     6,637

     8,465

    15,103

Municipal Liquidity Facility LLC

         0

         0

         1

         1

TALF II LLC

         0

         0

         0

         0

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

1.

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

2.

Outstanding amount of facility asset purchases:

 

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

 

    updated as of December 31, 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
Feb 7, 2024

Change since

Wednesday

Wednesday

Jan 31, 2024

Feb 8, 2023

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,517

+       17

+      230

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

 

 7,532,645

-    1,905

-  789,391

Securities held outright1

 

 7,112,112

-      112

-  911,992

U.S. Treasury securities

 

 4,692,608

-      113

-  704,414

Bills2

 

   210,353

         0

-   74,668

Notes and bonds, nominal2

 

 4,010,894

         0

-  624,843

Notes and bonds, inflation-indexed2

 

   360,222

         0

-   14,757

Inflation compensation3

 

   111,138

-      113

+    9,853

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,417,156

         0

-  207,579

Unamortized premiums on securities held outright5

 

   275,555

-      500

-   34,361

Unamortized discounts on securities held outright5

 

   -25,523

-       47

+    1,938

Repurchase agreements6

 

         0

         0

-        1

Loans7

 

   170,501

-    1,246

+  155,025

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

 

    15,103

+       20

-    7,519

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

         1

         0

-    5,583

Net portfolio holdings of TALF II LLC8

 

         0

         0

-    1,950

Items in process of collection

(0)

        56

+        6

+        3

Bank premises

 

       446

-       14

-       27

Central bank liquidity swaps9

 

       230

+       11

-      208

Foreign currency denominated assets10

 

    18,067

-      180

-      631

Other assets11

 

    46,998

+    3,222

+    1,005

 

 

 

 

 

Total assets

(0)

 7,631,300

+    1,176

-  804,069

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
Feb 7, 2024

Change since

Wednesday

Wednesday

Jan 31, 2024

Feb 8, 2023

Liabilities

 

 

 

 

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

 

 2,276,628

+      441

+   28,319

Reverse repurchase agreements12

 

   890,179

-   87,424

-1,528,752

Deposits

(0)

 4,549,137

+   86,864

+  817,897

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,555,738

+  144,021

+  522,178

U.S. Treasury, General Account

 

   821,575

-   43,906

+  325,737

Foreign official

 

     9,691

+        3

+      257

Other13

(0)

   162,134

-   13,253

-   30,274

Deferred availability cash items

(0)

       377

-      681

+      114

Treasury contributions to credit facilities14

 

     7,438

         0

-    7,909

Other liabilities and accrued dividends15

 

  -135,599

+    1,687

-  114,346

 

 

 

 

 

Total liabilities

(0)

 7,588,161

+      888

-  804,676

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    36,354

+      288

+      606

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    43,139

+      288

+      606

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, February 7, 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

     1,517

        50

        40

       140

        56

       187

       112

       268

        37

        57

       101

       192

       277

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

 7,532,645

   152,533

 4,123,599

   124,769

   230,457

   524,763

   512,179

   471,012

   119,119

    60,127

   108,002

   374,555

   731,530

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    15,103

    15,103

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

         1

         0

         1

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       230

        10

        82

         8

        22

        47

         7

         8

         5

         1

         2

         5

        33

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,067

       777

     6,430

       649

     1,704

     3,658

       542

       629

       407

       114

       192

       381

     2,585

Other assets5

    47,501

     1,075

    22,798

       866

     1,456

     3,603

     4,169

     2,857

     1,092

       702

     1,044

     2,482

     5,357

Interdistrict settlement account

         0

+    6,492

+    2,394

-   18,379

+   40,687

+  150,079

-   42,593

-   89,749

-   11,146

-    8,020

-   21,530

-   64,073

+   55,838

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 7,631,300

   176,598

 4,160,518

   108,579

   275,132

   683,524

   476,702

   386,130

   109,993

    53,245

    88,263

   314,832

   797,785

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, February 7, 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

 2,276,628

    79,880

   741,281

    49,505

   109,303

   159,465

   353,038

   121,420

    71,981

    32,653

    45,991

   188,786

   323,326

Reverse repurchase agreements6

   890,179

    17,198

   497,121

    14,671

    27,355

    61,947

    60,304

    55,491

    13,316

     6,036

    11,509

    43,402

    81,828

Deposits

 4,549,137

    71,845

 2,995,151

    44,075

   139,280

   475,039

    61,467

   216,964

    23,619

    14,373

    30,617

    82,984

   393,723

Depository institutions

 3,555,738

    71,775

 2,111,861

    44,073

   139,248

   473,895

    61,439

   108,440

    23,613

    14,316

    30,525

    82,868

   393,684

U.S. Treasury, General Account

   821,575

         0

   821,575

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,691

         2

     9,665

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   162,134

        68

    52,050

         0

        29

     1,136

        27

   108,522

         5

        57

        92

       114

        33

Earnings remittances due to the U.S. Treasury8

  -147,250

    -2,876

   -93,219

    -1,398

    -5,806

   -22,775

      -323

   -10,568

       -66

      -220

      -536

    -1,792

    -7,671

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

    12,028

     1,304

     5,333

       216

       423

     1,393

       739

       697

       173

       132

       208

       333

     1,078

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 7,588,161

   174,789

 4,145,668

   107,069

   270,555

   675,068

   475,225

   384,004

   109,023

    52,973

    87,789

   313,713

   792,284

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    36,354

     1,525

    12,504

     1,271

     3,855

     7,116

     1,255

     1,792

       818

       229

       400

       956

     4,632

Surplus

     6,785

       283

     2,346

       239

       722

     1,339

       222

       333

       153

        42

        74

       163

       869

Other capital

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities and capital

 7,631,300

   176,598

 4,160,518

   108,579

   275,132

   683,524

   476,702

   386,130

   109,993

    53,245

    88,263

   314,832

   797,785

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, February 7, 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

Feb 7, 2024

Federal Reserve notes outstanding

 2,713,694

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

   437,066

Federal Reserve notes to be collateralized

 2,276,628

Collateral held against Federal Reserve notes

 2,276,628

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,260,391

Other assets pledged

         0

Memo:

 

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

 7,112,112

Less: Face value of securities under reverse repurchase agreements

   989,183

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

 6,122,929

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: February 08, 2024