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Release Date: May 04, 2023

 

FEDERAL RESERVE statistical release

 

 

For Release at

4:30 P.M. Eastern time

May 4, 2023

 

In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending Program) reflects the quarterly update to the allowance for loan losses.  The allowance for loan losses was estimated based upon the Main Street Lending Program holdings as of March 31, 2023. 

 

On May 1, 2023, the California Department of Financial Protection and Innovation closed First Republic Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. For purposes of the H.4.1, the Federal Reserve's outstanding lending to First Republic Bank at the Discount Window and through the Bank Term Funding Program are now reflected in table 1 as "Other credit extensions". The outstanding loans are being repaid from assets left behind in the receivership, proceeds of the purchase and assumption agreement between the FDIC and JPMorgan Chase Bank, National Association, and pursuant to an FDIC guarantee.

 


 

 

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
May 3, 2023

Week ended
May 3, 2023

Change from week ended

Apr 26, 2023

May 4, 2022

Reserve Bank credit

 8,503,589

-   34,986

-  400,181

 8,467,040

Securities held outright1

 7,825,548

-   27,243

-  656,463

 7,800,812

U.S. Treasury securities

 5,247,421

-   18,041

-  517,227

 5,222,684

Bills2

   280,966

         0

-   45,078

   280,966

Notes and bonds, nominal2

 4,496,751

-   18,618

-  478,712

 4,471,870

Notes and bonds, inflation-indexed2

   365,411

         0

-   15,451

   365,411

Inflation compensation3

   104,292

+      577

+   22,012

   104,437

Federal agency debt securities2

     2,347

         0

         0

     2,347

Mortgage-backed securities4

 2,575,780

-    9,202

-  139,236

 2,575,780

Unamortized premiums on securities held outright5

   301,894

-      790

-   38,852

   301,683

Unamortized discounts on securities held outright5

   -27,406

+       58

-    4,132

   -27,333

Repurchase agreements6

         0

-    7,857

         0

         0

Foreign official

         0

-    7,857

         0

         0

Others

         0

         0

         0

         0

Loans

   329,631

+    1,460

+  305,063

   317,837

Primary credit

    50,699

-   20,344

+   47,631

     5,345

Secondary credit

         0

         0

         0

         0

Seasonal credit

         3

-        1

-        2

         4

Paycheck Protection Program Liquidity Facility

     8,545

-      314

-   12,950

     8,493

Bank Term Funding Program

    78,319

+    1,843

+   78,319

    75,778

Other credit extensions7

   192,066

+   20,277

+  192,066

   228,217

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

    22,222

+       65

-    6,390

    22,237

Net portfolio holdings of Municipal Liquidity Facility LLC8

     5,614

+        4

-    1,044

     5,615

Net portfolio holdings of TALF II LLC8

     1,902

-       25

-      570

     1,898

Float

      -478

-      308

-      150

      -495

Central bank liquidity swaps9

       410

-        9

+      185

       410

Other Federal Reserve assets10

    44,253

-      339

+    2,175

    44,375

Foreign currency denominated assets11

    18,837

-       25

+      293

    18,872

Gold stock

    11,041

         0

         0

    11,041

Special drawing rights certificate account

     5,200

         0

         0

     5,200

Treasury currency outstanding12

    51,709

+       14

+      728

    51,709

 

 

 

 

 

Total factors supplying reserve funds

 8,590,377

-   34,997

-  399,160

 8,553,862

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
May 3, 2023

Week ended
May 3, 2023

Change from week ended

Apr 26, 2023

May 4, 2022

Currency in circulation12

 2,324,887

+    2,906

+   53,897

 2,328,586

Reverse repurchase agreements13

 2,678,342

+   28,893

+  544,968

 2,640,951

Foreign official and international accounts

   390,402

+   28,215

+  106,604

   382,729

Others

 2,287,940

+      679

+  438,364

 2,258,222

Treasury cash holdings

       187

+       23

+      107

       203

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

   483,987

-   22,057

-  735,267

   404,499

Term deposits held by depository institutions

         0

         0

         0

         0

U.S. Treasury, General Account

   269,216

-   22,486

-  676,262

   188,309

Foreign official

     9,685

+        1

+    2,155

     9,676

Other14

   205,086

+      428

-   61,159

   206,514

Treasury contributions to credit facilities15

    15,347

         0

-    5,911

    15,347

Other liabilities and capital16

    -2,080

+    1,188

-   50,576

    -1,960

 

 

 

 

 

Total factors, other than reserve balances,
absorbing reserve funds

 5,500,671

+   10,953

-  192,781

 5,387,626

 

 

 

 

 

Reserve balances with Federal Reserve Banks

 3,089,706

-   45,949

-  206,379

 3,166,236

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 loans that were extended 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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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
May 3, 2023

Week ended
May 3, 2023

Change from week ended

Apr 26, 2023

May 4, 2022

Securities held in custody for foreign official and international accounts

 3,372,842

+    2,056

-   52,641

 3,379,169

Marketable U.S. Treasury securities1

 2,952,650

+    2,023

-   71,702

 2,959,046

Federal agency debt and mortgage-backed securities2

   338,649

-       23

+   19,869

   338,637

Other securities3

    81,542

+       55

-      810

    81,485

Securities lent to dealers

    45,351

-      741

+    7,884

    43,899

Overnight facility4

    45,351

-      741

+    7,884

    43,899

U.S. Treasury securities

    45,335

-      741

+    7,868

    43,883

Federal agency debt securities

        16

         0

+       16

        16

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, May 3, 2023

Millions of dollars

Remaining Maturity

Within 15
days

16 days to
90 days

91 days to
1 year

Over 1 year
to 5 years

Over 5 year
to 10 years

Over 10
years

All

Loans1

   231,713

     2,923

    74,714

     8,487

         0

...

   317,837

U.S. Treasury securities2

 

 

 

 

 

 

 

Holdings

   107,613

   282,587

   657,469

 1,821,818

   871,284

 1,481,913

 5,222,684

Weekly changes

+    3,766

-   31,306

-    7,430

-    1,080

-    8,302

+    1,307

-   43,044

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

         3

        19

     8,590

    45,023

 2,522,145

 2,575,780

Weekly changes

         0

+        2

+        1

+      836

-      839

+        5

+        4

Loan participations held by MS

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

Program)5

         0

         0

         0

    10,997

...

...

    10,997

Municipal notes held by Municipal

 

 

 

 

 

 

 

Liquidity Facility LLC6

         0

         0

     2,907

         0

...

...

     2,907

Loans held by TALF II LLC7

         0

        55

       845

         0

...

...

       900

Repurchase agreements8

         0

         0

...

...

...

...

         0

Central bank liquidity swaps9

       410

         0

         0

         0

         0

         0

       410

Reverse repurchase agreements8

 2,640,951

         0

...

...

...

...

 2,640,951

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. Additionally, the Within 15 days category includes loans to depository institutions (including FDIC-established depository institutions) that were subsequently placed in receivership.  These loans are recognized as performing based upon payment due from the receiverships, pledged collateral securing the loans, and the FDIC repayment guarantees. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, 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.

Book value of the municipal notes held by the Municipal Liquidity Facility LLC.

7.

Book value of the loans held by the TALF II LLC.

8.

Cash value of agreements.

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.

 

 


 

H.4.1

 

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Account name

Wednesday

May 3, 2023

Mortgage-backed securities held outright1

 2,575,780

Residential mortgage-backed securities

 2,567,371

Commercial mortgage-backed securities

     8,409

 

 

Commitments to buy mortgage-backed securities2

        86

Commitments to sell mortgage-backed securities2

         0

 

 

Cash and cash equivalents3

         1

 

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 May 3, 2023

 

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

 

 

 

principal

Outstanding

 

 

amount

amount of

Treasury

 

of loan

facility

contributions

 

extended to

asset

and

 

the LLC1

purchases2

other assets3

Total

MS Facilities LLC (Main Street Lending Program)

    10,296

     9,987

    12,250

    22,237

Municipal Liquidity Facility LLC

     2,907

     2,907

     2,708

     5,615

TALF II LLC

       927

       900

       998

     1,898

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 March 31, 2023.

 

b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 

    a one-day lag after the transaction date.

 

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

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. Amounts excluded are approximately 15% of Treasury contributions to the Municipal Liquidity Facility LLC and TALF II LLC. 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
May 3, 2023

Change since

Wednesday

Wednesday

Apr 26, 2023

May 4, 2022

Assets

 

 

 

 

Gold certificate account

 

    11,037

         0

         0

Special drawing rights certificate account

 

     5,200

         0

         0

Coin

 

     1,291

-       10

+        6

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

 

 8,392,999

-   59,871

-  430,595

Securities held outright1

 

 7,800,812

-   43,040

-  681,785

U.S. Treasury securities

 

 5,222,684

-   43,044

-  542,545

Bills2

 

   280,966

         0

-   45,078

Notes and bonds, nominal2

 

 4,471,870

-   43,542

-  503,593

Notes and bonds, inflation-indexed2

 

   365,411

         0

-   15,451

Inflation compensation3

 

   104,437

+      498

+   21,576

Federal agency debt securities2

 

     2,347

         0

         0

Mortgage-backed securities4

 

 2,575,780

+        4

-  139,240

Unamortized premiums on securities held outright5

 

   301,683

-      569

-   38,809

Unamortized discounts on securities held outright5

 

   -27,333

+       31

-    3,933

Repurchase agreements6

 

         0

         0

-        1

Loans7

 

   317,837

-   16,293

+  293,932

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

 

    22,237

+       58

-    6,403

Net portfolio holdings of Municipal Liquidity Facility LLC8

 

     5,615

+        2

-    1,044

Net portfolio holdings of TALF II LLC8

 

     1,898

-       31

-      567

Items in process of collection

(0)

        60

+        8

-        3

Bank premises

 

       441

-       12

-      173

Central bank liquidity swaps9

 

       410

-        8

+      185

Foreign currency denominated assets10

 

    18,872

-       80

+      339

Other assets11

 

    43,934

+    1,170

+    2,278

 

 

 

 

 

Total assets

(0)

 8,503,994

-   58,774

-  435,978

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
May 3, 2023

Change since

Wednesday

Wednesday

Apr 26, 2023

May 4, 2022

Liabilities

 

 

 

 

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

 

 2,278,366

+    4,834

+   55,375

Reverse repurchase agreements12

 

 2,640,951

+    2,146

+  542,398

Deposits

(0)

 3,570,735

-   67,058

-  977,860

Term deposits held by depository institutions

 

         0

         0

         0

Other deposits held by depository institutions

 

 3,166,236

+   34,136

-  147,759

U.S. Treasury, General Account

 

   188,309

-  107,900

-  776,103

Foreign official

 

     9,676

-        8

+    2,242

Other13

(0)

   206,514

+    6,713

-   56,240

Deferred availability cash items

(0)

       555

+      208

+      300

Treasury contributions to credit facilities14

 

    15,347

         0

-    5,911

Other liabilities and accrued dividends15

 

   -44,165

+    1,096

-   51,225

 

 

 

 

 

Total liabilities

(0)

 8,461,789

-   58,774

-  436,924

 

 

 

 

 

Capital accounts

 

 

 

 

Capital paid in

 

    35,420

         0

+      945

Surplus

 

     6,785

         0

         0

Other capital accounts

 

         0

         0

         0

 

 

 

 

 

Total capital

 

    42,205

         0

+      945

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 $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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, May 3, 2023

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold certificates and special drawing rights certificates

    16,237

       557

     5,175

       525

       752

     1,187

     2,287

     1,104

       479

       264

       452

     1,290

     2,165

Coin

     1,291

        22

        38

       115

        38

       181

        92

       242

        26

        39

        87

       155

       255

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

 8,392,999

   158,489

 4,562,409

   134,443

   251,297

   566,382

   551,317

   506,285

   123,551

    62,383

   113,297

   401,765

   961,381

Net portfolio holdings of MS

 

 

 

 

 

 

 

 

 

 

 

 

 

Facilities LLC (Main Street Lending

 

 

 

 

 

 

 

 

 

 

 

 

 

Program)2

    22,237

    22,237

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of Municipal Liquidity Facility LLC2

     5,615

         0

     5,615

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Net portfolio holdings of TALF II LLC2

     1,898

         0

     1,898

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Central bank liquidity swaps3

       410

        18

       146

        15

        39

        83

        12

        14

         9

         3

         4

         9

        59

Foreign currency denominated

 

 

 

 

 

 

 

 

 

 

 

 

 

assets4

    18,872

       812

     6,716

       678

     1,779

     3,821

       566

       657

       425

       119

       200

       398

     2,700

Other assets5

    44,435

       949

    23,264

       806

     1,389

     3,287

     2,883

     2,607

       770

       525

       898

     2,154

     4,903

Interdistrict settlement account

         0

+    5,061

-  237,761

-    1,962

+   38,749

+  229,746

+   38,156

+   11,145

+      389

-    1,382

-    7,467

+    9,437

-   84,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 8,503,994

   188,144

 4,367,501

   134,620

   294,044

   804,687

   595,313

   522,055

   125,650

    61,951

   107,472

   415,206

   887,353

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, May 3, 2023 (continued)

Millions of dollars

Assets, liabilities, and capital

Total

Boston

New York

Philadelphia

Cleveland

Richmond

Atlanta

Chicago

St. Louis

Minneapolis

Kansas

Dallas

San

City

Francisco

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

Federal Reserve notes, net

 2,278,366

    78,280

   726,804

    52,316

   111,433

   173,465

   355,872

   123,524

    68,976

    32,444

    49,271

   189,765

   316,216

Reverse repurchase agreements6

 2,640,951

    51,023

 1,474,839

    43,526

    81,157

   183,782

   178,909

   164,627

    39,507

    17,907

    34,145

   128,765

   242,763

Deposits

 3,570,735

    45,905

 2,180,078

    37,413

    98,398

   443,917

    58,337

   235,501

    16,107

    11,324

    23,571

    96,402

   323,783

Depository institutions

 3,166,236

    45,712

 1,927,318

    37,411

    98,366

   443,392

    58,309

    84,767

    16,099

    11,265

    23,539

    96,305

   323,753

U.S. Treasury, General Account

   188,309

         0

   188,309

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Foreign official

     9,676

         2

     9,650

         1

         4

         8

         1

         1

         1

         0

         0

         1

         6

Other7

   206,514

       191

    54,801

         0

        28

       518

        27

   150,732

         7

        59

        32

        96

        24

Earnings remittances due to the U.S. Treasury8

   -54,472

    -1,033

   -38,020

      -346

    -1,253

    -6,241

         6

    -4,294

       -53

      -111

      -161

      -843

    -2,123

Treasury contributions to credit facilities9

    15,347

    11,453

     3,894

         0

         0

         0

         0

         0

         0

         0

         0

         0

         0

Other liabilities and accrued
dividends

    10,862

       719

     5,044

       205

       346

     1,282

       889

       697

       155

       120

       191

       331

       884

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 8,461,789

   186,346

 4,352,641

   133,114

   290,080

   796,205

   594,012

   520,055

   124,692

    61,684

   107,017

   414,420

   881,524

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital paid in

    35,420

     1,507

    12,446

     1,262

     3,324

     7,108

     1,098

     1,763

       805

       224

       383

       643

     4,858

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

 8,503,994

   188,144

 4,367,501

   134,620

   294,044

   804,687

   595,313

   522,055

   125,650

    61,951

   107,472

   415,206

   887,353

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, May 3, 2023 (continued)

 

1.

Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

 

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between

 

the purchase price and the face value of the securities that have not been amortized.  For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities,

 

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

 

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility, Bank Term Funding Program, and other credit extensions.

2.

Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3.

Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate
equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

4.

Revalued daily at current foreign currency exchange rates.

5.

Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.

6.

Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7.

Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements.  Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8.

The Federal Reserve Banks remit residual net earnings to the U.S. Treasury after providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap. Positive amounts represent the estimated weekly remittances due to U.S. Treasury. Negative amounts represent the cumulative deferred asset position, which is incurred during a period when earnings are not sufficient to provide for the cost of operations, payment of dividends, and maintaining surplus. The deferred asset is the amount of net earnings that the Federal Reserve Banks need to realize before remittances to the U.S. Treasury resume.

9.

Book value. Amount of equity investments in MS Facilities LLC of $11.5 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.0 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 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

May 3, 2023

Federal Reserve notes outstanding

 2,641,894

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

   363,528

Federal Reserve notes to be collateralized

 2,278,366

Collateral held against Federal Reserve notes

 2,278,366

Gold certificate account

    11,037

Special drawing rights certificate account

     5,200

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

 2,262,129

Other assets pledged

         0

Memo:

 

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

 7,800,812

Less: Face value of securities under reverse repurchase agreements

 2,783,846

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

 5,016,966

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: May 04, 2023