Board of Governors of the Federal Reserve System

1. Factors Affecting Reserve Balances of Depository Institutions (continued) accessible

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

1. Factors Affecting Reserve Balances of Depository Institutions (continued) [title]: No description

Millions of dollars [title]: No description

Reserve Bank credit, related items, and reserve balances of depository institutions at Federal Reserve Banks [column]: No description

Averages of daily figures [column]: No description

Week ended - sub-column of Averages of daily figures : No description

Change from week ended - sub-column of Averages of daily figures : No description

Wednesday [column]: No description

Currency in circulation [row]:

Estimated.

Reverse repurchase agreements [row]:

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

Foreign official and international accounts [row]: No description

Others [row]: No description

Treasury cash holdings [row]: Treasury cash holdings include paper currency and coin held in Treasury vaults, including silver bullion, silver dollars, coinage metal, and unmonetized gold. The value of Treasury cash holdings is estimated using Treasury data.

Deposits with F.R. Banks, other than reserve balances [row]:

This item is the sum of "Term 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.

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 deposits: 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 [row]: No description

U.S. Treasury, General Account [row]: No description

Foreign official [row]: No description

Other [row]:

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.

Treasury contributions to credit facilities [row]:

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

Other liabilities and capital [row]:

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

Total factors, other than reserve balances, absorbing reserve funds [row]: This item is the sum of "currency in circulation," "reverse repurchase agreements," "Treasury cash holdings," "deposits with Federal Reserve Banks other than reserve balances," and "other liabilities and capital."

Reserve balances with Federal Reserve Banks [row]:

Reserve balances with Federal Reserve Banks are the difference between "total factors supplying reserve funds" and "total factors, other than reserve balances, absorbing reserve funds." This item represents balances held by depository institutions in master accounts and excess balance accounts at Federal Reserve Banks.