Board of Governors of the Federal Reserve System

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) accessible

H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks [title]: No description

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued) [title]: No description

Millions of dollars [title]: No description

Assets, liabilities, and capital [column]: No description

Eliminations from consolidation [column]: No description

Wednesday [column]: No description

Change Since [column]: No description

Wednesday - sub-column of Change Since : No description

Wednesday - sub-column of Change Since : No description

Liabilities [row]: No description

Federal Reserve notes, net of F.R. Bank holdings - sub-row of Liabilities [row]: This item reflects the total value of Federal Reserve notes (paper currency) outstanding net of the quantities held by Reserve Banks.

Reverse repurchase agreements - sub-row of Liabilities [row]:

Reverse repurchase agreements are transactions in which securities are sold to a set of counterparties under an agreement to buy them back from the same party on a specified date at the same price plus interest. Reverse repurchase agreements may be conducted with foreign official and international accounts as a service to the holders of these accounts. All other reverse repurchase agreements, including transactions with primary dealers and other counterparties who have been established specifically to transact in reverse repurchase agreements, are open market operations intended to manage the supply of reserve balances; reverse repurchase agreements absorb reserve balances from the banking system for the length of the agreement. As with repurchase agreements, the naming convention used here reflects the transaction from the counterparties' perspective; the Federal Reserve receives cash in a reverse repurchase agreement and provides collateral to the counterparties.

Deposits - sub-row of Liabilities [row]:

This item is the sum of "Term deposits held by depository institutions," "Other deposits held by depository institutions," "U.S. Treasury, General Account," "U.S. Treasury, Supplementary Financing Account," "Foreign official accounts," and "Other deposits."

Term deposits held by depository institutions: Term deposits are deposits with specified maturity dates that are held by institutions that are eligible to receive interest on their balances at Reserve Banks. Term deposits are separate and distinct from balances maintained in an institution's master account at a Federal Reserve Bank as well as from those maintained in an excess balance account. Term deposits are intended to facilitate the conduct of monetary policy by providing a tool for managing the aggregate quantity of reserve balances.

Other deposits held by depository institutions: This account reflects the balances in the accounts that depository institutions have with the Federal Reserve Banks. These balances include reserve balances.

U.S. Treasury, General Account: This account is the primary operational account of the U.S. Treasury at the Federal Reserve. Virtually all U.S. government disbursements are made from this account. Some tax receipts, primarily individual and other tax payments made directly to the Treasury, are deposited in this account, and it is also used to collect funds from sales of Treasury debt.

U.S. Treasury, Supplementary Financing Account: With the dramatic expansion of the Federal Reserve's liquidity facilities, the Treasury agreed to establish the Supplementary Financing Program with the Federal Reserve. Under the Supplementary Financing Program, the Treasury issues debt and places the proceeds in the Supplementary Financing Account. The effect of the account is to drain balances from the deposits of depository institutions, helping to offset, somewhat, the rapid rise in balances that resulted from the various Federal Reserve liquidity facilities.

Foreign Official: Foreign official deposits are balances of foreign central banks and monetary authorities, foreign governments, and other foreign official institutions with accounts at FRBNY. These balances usually are relatively small because the accounts do not bear interest. While transactions in these accounts are handled by FRBNY for balance sheet purposes, the deposits are allocated across all of the Reserve Banks based on each Reserve Bank's capital and surplus.

Other: Other deposits at Federal Reserve Banks include balances of international and multilateral organizations with accounts at FRBNY, such as the International Monetary Fund, United Nations, International Bank for Reconstruction and Development (World Bank); the special checking account of the ESF (where deposits from monetizing SDRs would be placed); and balances of U.S. government agencies and government-sponsored enterprises, such as Fannie Mae and Freddie Mac. Also includes balances of financial market utilities that are designated as systemically important by the Financial Stability Oversight Council under Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Also includes deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements and 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.

Term deposits held by depository institutions - sub-row of Deposits - sub-row of Liabilities [row]: No description

Other deposits held by depository institutions - sub-row of Deposits - sub-row of Liabilities [row]: No description

U.S. Treasury, General Account - sub-row of Deposits - sub-row of Liabilities [row]: No description

Foreign official - sub-row of Deposits - sub-row of Liabilities [row]: No description

Other - sub-row of Deposits - sub-row of Liabilities [row]: No description

Deferred availability cash items - sub-row of Liabilities [row]: Reserve Banks do not give immediate credit for all checks or other items deposited with them for collection because it can take time to collect payment. Reserve Banks defer credit according to a schedule, which takes into account the time for presentments to be made. The maximum credit deferral is two business days, after which funds are added to the depositing institution's reserve account, regardless of whether the item has been collected from the institution on which it is drawn. The difference between "items in process of collection" and "deferred availability cash items" is "float."

Treasury contributions to credit facilities - sub-row of Liabilities [row]:

Book value. Amount includes equity investments in MS Facilities 2020 LLC.

Other liabilities and accrued dividends - sub-row of Liabilities [row]:

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

Total liabilities [row]: No description

Capital accounts [row]: No description

Capital paid in - sub-row of Capital accounts [row]: Banks that are members of the Federal Reserve System make payments for Federal Reserve Bank capital stock. Each member is required by law to become a shareholder and subscribe to shares of its district Reserve Bank in an amount equal to 6 percent of its own paid-in capital and surplus. Of this amount, half must be paid to the Federal Reserve and half remains subject to call by the Board of Governors. When a member's capital or surplus changes, its holdings of Reserve Bank stock must be adjusted accordingly.

Surplus - sub-row of Capital accounts [row]: After expenses are paid and the statutory cumulative 6 percent dividend on paid-in capital stock is met, Board of Governor's policy is that each Reserve Bank should retain a surplus balance equal to its capital paid-in.

Other capital accounts - sub-row of Capital accounts [row]: These accounts used to consist of the unallocated net earnings since the last payment of dividends to stockholders, the amount necessary to equate surplus to paid in capital at year-end, and the accumulated interest to be paid to the Treasury on outstanding Federal Reserve notes. Effective January 1, 2011, the amounts described in the latter sentence will be recorded as a liability, and will be included in Other liabilities and capital accounts on table 1, Other liabilities and accrued dividends on table 4, and Earnings remittances due to the U.S. Treasury on table 5.

Total capital [row]: Total capital is the sum of "capital paid in," "surplus," and "other capital accounts."