Financial Accounts of the United States - Z.1
L.207 Federal Funds and Security Repurchase Agreements (1)
Billions of dollars; amounts outstanding end of period, not seasonally adjusted| Description | Series code | 2018 | 2019 | 2020 | 2019 Q3 | 2019 Q4 | 2020 Q1 | 2020 Q2 | 2020 Q3 | 2020 Q4 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; federal funds and security repurchase agreements; liability | FL892150005 | 3970.0 | 4426.9 | 4249.8 | 4579.0 | 4426.9 | 4780.0 | 4090.7 | 4095.9 | 4249.8 | 1 |
| Monetary authority; security repurchase agreements; liability | FL712151003 | 304.0 | 336.6 | 216.1 | 313.4 | 336.6 | 569.1 | 233.0 | 205.2 | 216.1 | 2 |
| U.S.-chartered depository institutions, including IBFs; federal funds and security repurchase agreements; liability | FL762150005 | 143.1 | 167.0 | 170.9 | 180.3 | 167.0 | 191.1 | 190.5 | 179.0 | 170.9 | 3 |
| U.S.-chartered depository institutions, including IBFs; federal funds; liability (2) | FL762152005 | 40.3 | 38.7 | 21.5 | 44.5 | 38.7 | 49.1 | 34.5 | 20.5 | 21.5 | 4 |
| U.S.-chartered depository institutions, including IBFs; security repurchase agreements; liability | FL762151005 | 102.8 | 128.4 | 149.4 | 135.7 | 128.4 | 142.1 | 156.0 | 158.5 | 149.4 | 5 |
| Foreign banking offices in the U.S., including IBFs; federal funds and security repurchase agreements; liability | FL752150005 | 503.6 | 550.0 | 545.0 | 526.5 | 550.0 | 597.1 | 498.2 | 540.9 | 545.0 | 6 |
| Foreign banking offices in the U.S., including IBFs; federal funds; liability (2) | FL752152005 | 17.9 | 19.2 | 12.3 | 19.4 | 19.2 | 25.7 | 21.9 | 18.1 | 12.3 | 7 |
| Foreign banking offices in the U.S., including IBFs; security repurchase agreements; liability | FL752151005 | 485.7 | 530.8 | 532.6 | 507.1 | 530.8 | 571.5 | 476.2 | 522.8 | 532.6 | 8 |
| Credit unions; federal funds and security repurchase agreements held by Corporate Credit Unions; liability | FL472150053 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 9 |
| Property-casualty insurance companies; security repurchase agreements; liability | FL512151003 | 0.2 | 0.2 | 0.6 | 0.2 | 0.2 | 0.3 | 0.2 | 0.5 | 0.6 | 10 |
| Life insurance companies, general accounts; security repurchase agreements; liability | FL542151073 | 24.1 | 17.5 | 29.3 | 20.8 | 17.5 | 27.1 | 25.9 | 30.0 | 29.3 | 11 |
| Government-sponsored enterprises; federal funds and security repurchase agreements; liability | FL402150005 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 12 |
| Mortgage real estate investment trusts; security repurchase agreements; liability | FL642151073 | 307.6 | 379.3 | 221.5 | 372.8 | 379.3 | 260.3 | 229.8 | 220.2 | 221.5 | 13 |
| Security brokers and dealers; security repurchase agreements; liability | FL662151003 | 1698.4 | 1755.0 | 1774.2 | 1873.7 | 1755.0 | 1815.9 | 1680.4 | 1713.2 | 1774.2 | 14 |
| Holding companies; security repurchase agreements; liability | FL732151003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 15 |
| Rest of the world; security repurchase agreements; liability | FL262151003 | 989.0 | 1221.2 | 1292.2 | 1291.3 | 1221.2 | 1318.9 | 1232.6 | 1206.8 | 1292.2 | 16 |
| All sectors; federal funds and security repurchase agreements; asset | FL892050005 | 4452.4 | 5114.6 | 4869.1 | 5159.0 | 5114.6 | 5523.7 | 4742.3 | 4714.0 | 4869.1 | 17 |
| Nonfinancial corporate business; security repurchase agreements; asset | FL102051003 | 14.6 | 12.2 | 26.6 | 10.2 | 12.2 | 24.4 | 29.7 | 28.5 | 26.6 | 18 |
| State and local governments; security repurchase agreements; asset | FL212051003 | 164.9 | 164.2 | 183.5 | 163.3 | 164.2 | 162.0 | 174.9 | 179.5 | 183.5 | 19 |
| Monetary authority; security repurchase agreements; asset | FL712051000 | 0.0 | 255.6 | 0.0 | 202.5 | 255.6 | 262.7 | 58.0 | 0.0 | 0.0 | 20 |
| U.S.-chartered depository institutions, including IBFs; federal funds and security repurchase agreements; asset | FL762050005 | 382.8 | 358.5 | 538.3 | 332.3 | 358.5 | 331.3 | 560.3 | 498.1 | 538.3 | 21 |
| U.S.-chartered depository institutions, including IBFs; federal funds; asset (2) | FL762052005 | 20.3 | 24.2 | 25.5 | 21.4 | 24.2 | 21.3 | 32.1 | 19.9 | 25.5 | 22 |
| U.S.-chartered depository institutions, including IBFs; security repurchase agreements; asset | FL762051005 | 362.5 | 334.3 | 512.8 | 311.0 | 334.3 | 309.9 | 528.2 | 478.2 | 512.8 | 23 |
| Foreign banking offices in the U.S. including IBFs; federal funds and security repurchase agreements; asset | FL752050005 | 319.0 | 379.0 | 323.7 | 402.9 | 379.0 | 327.2 | 302.2 | 336.1 | 323.7 | 24 |
| Foreign banking offices in the U.S., including IBFs; federal funds; asset (2) | FL752052005 | 1.2 | 0.3 | 0.3 | 2.1 | 0.3 | 0.6 | 1.1 | 1.3 | 0.3 | 25 |
| Foreign banking offices in the U.S., including IBFs; security repurchase agreements; asset | FL752051005 | 317.8 | 378.7 | 323.3 | 400.8 | 378.7 | 326.6 | 301.1 | 334.9 | 323.3 | 26 |
| Credit unions; federal funds and security repurchase agreements held by Corporate Credit Unions (net of liabilities before 2002:Q4); asset | FL472050053 | 0.2 | 0.8 | 0.5 | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 | 0.5 | 27 |
| Credit unions; federal funds held by Corporate Credit Unions; asset | FL472052053 | 0.1 | 0.3 | 0.1 | 0.4 | 0.3 | 0.3 | 0.1 | 0.2 | 0.1 | 28 |
| Credit unions; security repurchase agreements held by Corporate Credit Unions; asset | FL472051053 | 0.0 | 0.6 | 0.4 | 0.4 | 0.6 | 0.5 | 0.6 | 0.6 | 0.4 | 29 |
| Property-casualty insurance companies; security repurchase agreements, including those held by U.S. residual market reinsurers; asset | FL512051005 | 1.3 | 2.0 | 2.3 | 1.7 | 2.0 | 2.4 | 2.0 | 2.3 | 2.3 | 30 |
| Life insurance companies, general accounts; security repurchase agreements, including those held by U.S. captive reinsurers; asset | FL542051075 | 2.2 | 6.3 | 8.2 | 5.7 | 6.3 | 9.8 | 7.4 | 8.3 | 8.2 | 31 |
| Private pension funds; security repurchase agreements; asset | FL572051005 | 2.5 | 2.4 | 2.3 | 2.4 | 2.4 | 2.4 | 2.4 | 2.4 | 2.3 | 32 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 4.5 | 7.0 | 0.5 | 11.7 | 7.0 | 6.4 | 4.6 | 2.7 | 0.5 | 33 |
| Money market funds; security repurchase agreements; asset | FL632051000 | 1019.5 | 1175.1 | 1006.3 | 1172.5 | 1175.1 | 1468.4 | 906.1 | 997.2 | 1006.3 | 34 |
| Mutual funds; security repurchase agreements; asset | FL652051003 | 81.7 | 102.8 | 107.5 | 102.4 | 102.8 | 107.3 | 104.1 | 96.7 | 107.5 | 35 |
| Government-sponsored enterprises; federal funds and security repurchase agreements; asset | FL402050005 | 170.6 | 195.2 | 225.4 | 187.1 | 195.2 | 153.9 | 225.0 | 206.9 | 225.4 | 36 |
| Government-sponsored enterprises; federal funds held by FHLB; asset (3) | FL402052033 | 54.2 | 51.4 | 45.0 | 55.9 | 51.4 | 74.4 | 53.7 | 44.5 | 45.0 | 37 |
| Security brokers and dealers; security repurchase agreements; asset | FL662051003 | 1315.2 | 1396.0 | 1322.1 | 1466.5 | 1396.0 | 1483.0 | 1282.2 | 1279.0 | 1322.1 | 38 |
| Holding companies; security repurchase agreements; asset | FL732051003 | 1.7 | 2.1 | 41.9 | 1.2 | 2.1 | 2.1 | 22.2 | 37.1 | 41.9 | 39 |
| Other financial business; security repurchase agreements; asset | FL502051003 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 40 |
| Rest of the world; security repurchase agreements; asset | FL262051005 | 971.7 | 1055.3 | 1080.0 | 1095.7 | 1055.3 | 1179.4 | 1060.5 | 1038.2 | 1080.0 | 41 |
| Instrument discrepancies; federal funds and security repurchase agreements | FL902050005 | -482.4 | -687.7 | -619.4 | -580.0 | -687.7 | -743.7 | -651.6 | -618.0 | -619.4 | 42 |
| Interest rates and price indexes; effective Federal funds rate (percent) (4) | FL072052006 | 2.27 | 1.55 | 0.09 | 2.04 | 1.55 | 0.65 | 0.08 | 0.09 | 0.09 | 43 |
| Monetary authority; security repurchase agreements, reverse repurchase agreement operations; liability (5) | FL712151103 | 41.8 | 64.1 | 9.7 | 7.1 | 64.1 | 284.9 | 0.9 | 0.8 | 9.7 | 44 |
| Money market funds; security repurchase agreements (Federal Reserve reverse repurchase agreement operations); asset (6) | FL632051103 | 39.6 | 46.9 | 9.7 | 7.1 | 46.9 | 284.9 | 0.9 | 0.8 | 9.7 | 45 |
| Domestic financial sectors, excluding money market funds; security repurchase agreements (Federal Reserve Reverse Repurchase Agreement Operational Exercise); asset (7) | FL792051115 | 2.2 | 17.2 | 0.0 | 0.0 | 17.2 | 0.0 | 0.0 | 0.0 | 0.0 | 46 |
NOTES
- Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered despository institutions, 2003:Q1 for foreign banking offices in U.S., 1997:Q1 for credit unions, and 2000:Q1 for FHLB.
- Excludes term federal funds.
- Includes term federal funds.
- The effective federal funds rate is a weighted average of rates on brokered trades. Annualized using a 360-day year.
- Included in line 2.
- Included in line 34.
- Includes banks (consolidated), government-sponsored enterprises, and primary dealers.
Last Update: March 11, 2021