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Release Date: October 31, 2024

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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
Oct 30, 2024

Week ended
Oct 30, 2024

Change from week ended

Oct 23, 2024

Nov 1, 2023

Reserve Bank credit

 6,974,370

-   18,205

-  886,489

 6,971,209

Securities held outright1

 6,627,879

-   12,693

-  737,457

 6,626,135

U.S. Treasury securities

 4,357,762

+      137

-  542,320

 4,357,825

Bills2

   195,293

         0

-   36,065

   195,293

Notes and bonds, nominal2

 3,704,440

+       43

-  486,121

 3,704,447

Notes and bonds, inflation-indexed2

   340,938

+        7

-   24,442

   340,956

Inflation compensation3

   117,092

+       87

+    4,309

   117,130

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,267,770

-   12,830

-  195,137

 2,265,963

Unamortized premiums on securities held outright5

   254,542

-      764

-   29,891

   254,329

Unamortized discounts on securities held outright5

   -23,759

+       90

+    2,577

   -23,681

Repurchase agreements6

         9

+        6

+        7

        31

Foreign official

         1

+        1

+        1

         0

Others

         9

+        6

+        7

        31

Loans

    62,453

-    3,860

-  102,444

    61,485

Primary credit

     1,467

-      140

-    1,661

     1,505

Secondary credit

         0

         0

         0

         0

Seasonal credit

        59

-        4

+       19

        60

Paycheck Protection Program Liquidity Facility

     2,093

-       43

-    2,291

     2,090

Bank Term Funding Program

    58,833

-    3,674

-   50,468

    57,831

Other credit extensions7

         0

         0

-   48,043

         0

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

    10,147

+       10

-    8,980

    10,158

Net portfolio holdings of Municipal Liquidity Facility LLC8

         0

         0

-    5,641

         0

Net portfolio holdings of TALF II LLC8

         0

         0

-    1,165

         0

Float

      -416

-      150

-       25

    -1,324

Central bank liquidity swaps9

       157

-        6

-       89

       157

Other Federal Reserve assets10

    43,358

-      839

-    3,381

    43,918

Foreign currency denominated assets11

    18,126

-       99

+      443

    18,155

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

    10,200

         0

+    5,000

    10,200

Treasury currency outstanding12

    53,143

+       14

+      728

    53,143

 

 

 

 

 

Total factors supplying reserve funds

 7,066,880

-   18,289

-  880,317

 7,063,748

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
Oct 30, 2024

Week ended
Oct 30, 2024

Change from week ended

Oct 23, 2024

Nov 1, 2023

Currency in circulation12

 2,354,988

-    1,003

+   31,622

 2,356,502

Reverse repurchase agreements13

   620,731

-   34,206

-  789,930

   627,007

Foreign official and international accounts

   390,928

-    5,219

+   83,212

   398,061

Others

   229,802

-   28,988

-  873,143

   228,946

Treasury cash holdings

       336

+        6

-       36

       347

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

 1,002,000

+    8,234

+    9,086

 1,011,543

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   835,237

+    5,246

+   14,750

   847,137

Foreign official

     9,683

         0

-        4

     9,684

Other14

   157,079

+    2,987

-    5,661

   154,722

Treasury contributions to credit facilities15

     4,958

         0

-    8,400

     4,958

Other liabilities and capital16

  -153,090

+    1,869

-   92,400

  -152,403

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 3,829,922

-   25,102

-  850,060

 3,847,954

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,236,958

+    6,813

-   30,258

 3,215,794

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 2020 LLC of $5.0 billion.

16.

Includes the liability for earnings remittances due to the U.S. Treasury.

 

 

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.


 

 


 

H.4.1

 

1A. Memorandum Items

Millions of dollars

Memorandum item

Averages of daily figures

Wednesday
Oct 30, 2024

Week ended
Oct 30, 2024

Change from week ended

Oct 23, 2024

Nov 1, 2023

Securities held in custody for foreign official and international accounts

 3,329,141

+    7,623

-   92,025

 3,323,744

Marketable U.S. Treasury securities1

 2,941,663

+    8,861

-   43,040

 2,936,186

Federal agency debt and mortgage-backed securities2

   298,788

-    1,330

-   55,092

   298,893

Other securities3

    88,691

+       93

+    6,107

    88,665

Securities lent to dealers

    32,685

+    2,286

-    2,453

    35,056

Overnight facility4

    32,685

+    2,286

-    2,453

    35,056

U.S. Treasury securities

    32,685

+    2,286

-    2,453

    35,056

Federal agency debt securities

         0

         0

         0

         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, October 30, 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

     1,112

    57,410

     1,261

     1,702

         0

...

    61,485

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

    70,055

   215,127

   484,413

 1,467,694

   592,512

 1,528,024

 4,357,825

Weekly changes

+    5,331

-    2,768

-    2,552

+       38

+       11

+      109

+      169

Federal agency debt securities3

 

 

 

 

 

 

 

Holdings

         0

         0

         0

       486

     1,861

         0

     2,347

Weekly changes

         0

         0

         0

         0

         0

         0

         0

Mortgage-backed securities4

 

 

 

 

 

 

 

Holdings

         0

         0

        12

     6,005

    23,699

 2,236,246

 2,265,963

Weekly changes

         0

         0

-        4

-      121

-      532

-   11,997

-   12,653

Loan participations held by MS

 

 

 

 

 

 

 

Facilities 2020 LLC (Main Street

 

 

 

 

 

 

 

Lending Program)5

         0

         0

         0

     5,037

...

...

     5,037

Repurchase agreements6

        31

         0

...

...

...

...

        31

Central bank liquidity swaps7

       157

         0

         0

         0

         0

         0

       157

Reverse repurchase agreements6

   627,007

         0

...

...

...

...

   627,007

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 2020 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 2020 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

Oct 30, 2024

Mortgage-backed securities held outright1

 2,265,963

Residential mortgage-backed securities

 2,257,865

Commercial mortgage-backed securities

     8,098

 

 

Commitments to buy mortgage-backed securities2

        74

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 LLC

Millions of dollars

Credit Facilities LLC:

Wednesday Oct 30, 2024

 

Net portfolio holdings of

Credit Facilities LLC

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

MS Facilities 2020 LLC (Main Street Lending Program)

     4,035

     4,475

     5,683

    10,158

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 includes loan participations at face value, net of an allowance for credit losses updated as of June 30, 2024.

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
Oct 30, 2024

Change since

Wednesday

Wednesday

Oct 23, 2024

Nov 1, 2023

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

    10,200

         0

+    5,000

Coin

 

     1,495

-        8

+       40

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

 

 6,918,299

-   15,290

-  840,742

Securities held outright1

 

 6,626,135

-   12,484

-  711,720

U.S. Treasury securities

 

 4,357,825

+      169

-  514,776

Bills2

 

   195,293

         0

-   35,973

Notes and bonds, nominal2

 

 3,704,447

+       50

-  458,577

Notes and bonds, inflation-indexed2

 

   340,956

+       25

-   24,424

Inflation compensation3

 

   117,130

+       94

+    4,198

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,265,963

-   12,653

-  196,944

Unamortized premiums on securities held outright5

 

   254,329

-      739

-   29,913

Unamortized discounts on securities held outright5

 

   -23,681

+       86

+    2,565

Repurchase agreements6

 

        31

+       31

+       30

Loans7

 

    61,485

-    2,184

-  101,704

Net portfolio holdings of MS Facilities 2020 LLC (Main Street Lending Program)8

 

    10,158

+       13

-    8,986

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

         0

         0

-    5,643

Net portfolio holdings of TALF II LLC8

 

         0

         0

-    1,019

Items in process of collection

(0)

        70

+       24

+        3

Bank premises

 

       430

+        4

         0

Central bank liquidity swaps9

 

       157

-        6

-       89

Foreign currency denominated assets10

 

    18,155

+       86

+      547

Other assets11

 

    43,488

-      742

-    2,286

 

 

 

 

 

Total assets

(0)

 7,013,490

-   15,918

-  853,174

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
Oct 30, 2024

Change since

Wednesday

Wednesday

Oct 23, 2024

Nov 1, 2023

Liabilities

 

 

 

 

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

 

 2,305,197

+      999

+   30,564

Reverse repurchase agreements12

 

   627,007

-   41,610

-  769,508

Deposits

(0)

 4,227,337

+   21,589

-   14,677

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,215,794

-   12,668

-   98,836

U.S. Treasury, General Account

 

   847,137

+   29,727

+   94,129

Foreign official

 

     9,684

+        1

-        2

Other13

(0)

   154,722

+    4,529

-    9,969

Deferred availability cash items

(0)

     1,394

+    1,034

+      848

Treasury contributions to credit facilities14

 

     4,958

         0

-    8,400

Other liabilities and accrued dividends15

 

  -195,897

+    2,026

-   92,760

 

 

 

 

 

Total liabilities

(0)

 6,969,996

-   15,962

-  853,933

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    36,709

+       44

+      759

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    43,494

+       44

+      759

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 2020 LLC of $5.0 billion.

15.

Includes the liability for earnings remittances due to the U.S. Treasury.

 

 


 

H.4.1

 

6. Statement of Condition of Each Federal Reserve Bank, October 30, 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

    21,237

       729

     6,619

       657

       997

     1,557

     2,999

     1,417

       635

       355

       599

     1,786

     2,887

Coin

     1,495

        57

        48

       168

        43

       197

       118

       250

        33

        55

        99

       182

       246

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

 6,918,299

   145,719

 3,696,007

   103,083

   269,839

   692,028

   465,073

   381,597

    99,406

    46,072

    81,468

   306,403

   631,604

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities 2020 LLC (Main Street

 

 

 

 

 

 

 

 

 

 

 

 

 

Lending Program)2

    10,158

    10,158

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       157

         7

        54

         6

        17

        31

         5

         8

         4

         1

         2

         4

        20

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,155

       757

     6,279

       639

     1,931

     3,582

       595

       891

       409

       114

       198

       437

     2,324

Other assets5

    43,989

     1,079

    20,570

       744

     1,719

     4,685

     3,918

     2,386

       875

       590

     1,022

     2,172

     4,226

Interdistrict settlement account

         0

+   18,471

-   36,324

+   54,318

-    6,211

-   45,969

-    3,058

-   35,113

+    8,969

+    5,578

-   13,877

+    1,679

+   51,537

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 7,013,490

   176,976

 3,693,254

   159,615

   268,336

   656,110

   469,651

   351,436

   110,331

    52,765

    69,510

   312,662

   692,844

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, October 30, 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

 2,305,197

    85,829

   751,536

    55,338

   114,039

   168,306

   359,990

   104,937

    77,419

    30,278

    28,806

   201,166

   327,553

Reverse repurchase agreements6

   627,007

    13,042

   337,418

     9,342

    24,450

    62,499

    41,949

    34,603

     8,774

     3,917

     6,894

    27,381

    56,738

Deposits

 4,227,337

    73,862

 2,711,531

    95,943

   134,014

   448,563

    64,370

   223,666

    22,954

    18,388

    33,855

    84,029

   316,162

Depository institutions

 3,215,794

    73,857

 1,802,862

    95,942

   133,980

   447,997

    64,295

   121,727

    22,949

    18,281

    33,824

    83,951

   316,130

U.S. Treasury, General Account

   847,137

         0

   847,137

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,684

         2

     9,658

         1

         4

         8

         1

         2

         1

         0

         0

         1

         5

Other7

   154,722

         3

    51,873

         0

        29

       559

        74

   101,938

         4

       106

        30

        77

        27

Earnings remittances due to the U.S. Treasury8

  -207,040

    -3,990

  -126,707

    -2,858

    -9,192

   -33,226

        78

   -14,614

       -12

      -257

      -757

    -1,435

   -14,068

Treasury contributions to credit facilities9

     4,958

     4,958

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    12,536

     1,434

     4,600

       324

       451

     1,408

     1,797

       659

       207

       160

       228

       333

       935

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 6,969,996

   175,134

 3,678,377

   158,089

   263,762

   647,551

   468,184

   349,251

   109,341

    52,486

    69,027

   311,473

   687,321

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    36,709

     1,559

    12,531

     1,286

     3,852

     7,221

     1,244

     1,852

       837

       236

       410

     1,026

     4,655

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

 7,013,490

   176,976

 3,693,254

   159,615

   268,336

   656,110

   469,651

   351,436

   110,331

    52,765

    69,510

   312,662

   692,844

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, October 30, 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 2020 LLC of $5.0 billion.

 

  

 

 

 

Note on consolidation:

 

 

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 5, 2020, FRBNY began extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities 2020 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 2020 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 2020 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

Oct 30, 2024

Federal Reserve notes outstanding

 2,782,069

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

   476,872

Federal Reserve notes to be collateralized

 2,305,197

Collateral held against Federal Reserve notes

 2,305,197

Gold certificate account

    11,037

Special drawing rights certificate account

    10,200

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

 2,283,960

Other assets pledged

         0

Memo:

 

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

 6,626,166

Less: Face value of securities under reverse repurchase agreements

   680,471

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

 5,945,694

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: October 31, 2024
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