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 | 2021 | 2022 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | Line |
|---|---|---|---|---|---|---|---|---|---|---|---|
| All sectors; federal funds and security repurchase agreements; liability | FL892150005 | 5855.3 | 6563.7 | 5720.1 | 6163.6 | 6346.3 | 6563.7 | 7089.2 | 6917.5 | 6585.1 | 1 |
| Monetary authority; security repurchase agreements; liability | FL712151003 | 2183 | 2889.6 | 2121 | 2601.2 | 2720.4 | 2889.6 | 2742.7 | 2368.9 | 1863.4 | 2 |
| U.S.-chartered depository institutions, including IBFs; federal funds and security repurchase agreements; liability | FL762150005 | 161 | 185.3 | 156.1 | 168.6 | 176.8 | 185.3 | 289.5 | 264.2 | 254.1 | 3 |
| U.S.-chartered depository institutions, including IBFs; federal funds; liability (2) | FL762152005 | 14.8 | 39 | 17.3 | 26.3 | 37.4 | 39 | 33.2 | 32.6 | 32.4 | 4 |
| U.S.-chartered depository institutions, including IBFs; security repurchase agreements; liability | FL762151005 | 146.3 | 146.3 | 138.7 | 142.3 | 139.4 | 146.3 | 256.4 | 231.6 | 221.7 | 5 |
| Foreign banking offices in the U.S., including IBFs; federal funds and security repurchase agreements; liability | FL752150005 | 527.5 | 464.2 | 544.5 | 491.2 | 475.8 | 464.2 | 510.1 | 558.9 | 553.2 | 6 |
| Foreign banking offices in the U.S., including IBFs; federal funds; liability (2) | FL752152005 | 11.5 | 11.7 | 26.3 | 20.1 | 23.8 | 11.7 | 15.5 | 30.4 | 25.7 | 7 |
| Foreign banking offices in the U.S., including IBFs; security repurchase agreements; liability | FL752151005 | 515.9 | 452.4 | 518.2 | 471 | 452 | 452.4 | 494.6 | 528.4 | 527.5 | 8 |
| Credit unions; federal funds and security repurchase agreements held by Corporate Credit Unions; liability | FL472150053 | 0 | 0.2 | 0 | 0 | 0 | 0.2 | 0.1 | 0 | 0 | 9 |
| Property-casualty insurance companies; security repurchase agreements; liability | FL512151003 | 0.1 | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.4 | 0.4 | 0.5 | 10 |
| Life insurance companies, general accounts; security repurchase agreements; liability | FL542151073 | 20.1 | 35.5 | 22.9 | 24.4 | 31.9 | 35.5 | 33.8 | 38.1 | 40.7 | 11 |
| Government-sponsored enterprises; federal funds and security repurchase agreements; liability | FL402150005 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 |
| Mortgage real estate investment trusts; security repurchase agreements; liability | FL642151073 | 220.1 | 201.5 | 210.1 | 204.3 | 207 | 201.5 | 222.1 | 214.6 | 229.7 | 13 |
| Security brokers and dealers; security repurchase agreements; liability | FL662151003 | 1570.4 | 1626.1 | 1523.6 | 1533.6 | 1613.4 | 1626.1 | 2018.5 | 2054.4 | 2067.3 | 14 |
| Holding companies; security repurchase agreements; liability | FL732151003 | 0 | 0 | 0.1 | 0 | 0 | 0 | 0 | 0 | 0.1 | 15 |
| Rest of the world; security repurchase agreements; liability | FL262151003 | 1173.1 | 1161.2 | 1141.8 | 1140.2 | 1120.8 | 1161.2 | 1272 | 1417.9 | 1576 | 16 |
| All sectors; federal funds and security repurchase agreements; asset | FL892050005 | 6245.3 | 7071.4 | 6131.4 | 6470 | 6732.8 | 7071.4 | 7890.6 | 7690 | 7468 | 17 |
| Nonfinancial corporate business; security repurchase agreements; asset | FL102051003 | 26.7 | 28.5 | 30 | 24.6 | 24.7 | 28.5 | 30.7 | 30.1 | 29.7 | 18 |
| State and local governments; security repurchase agreements; asset | FL212051003 | 189.2 | 199.3 | 191.7 | 194.2 | 196.8 | 199.3 | 201.8 | 204.3 | 206.8 | 19 |
| Monetary authority; security repurchase agreements; asset | FL712051000 | 0 | 0 | 0 | 0 | 0 | 0 | 45 | 1 | 0 | 20 |
| U.S.-chartered depository institutions, including IBFs; federal funds and security repurchase agreements; asset | FL762050005 | 317.4 | 330.8 | 298.5 | 280.9 | 307.9 | 330.8 | 324.6 | 275.5 | 271.8 | 21 |
| U.S.-chartered depository institutions, including IBFs; federal funds; asset (2) | FL762052005 | 25.6 | 26.2 | 22.5 | 17.8 | 19.8 | 26.2 | 22.6 | 15.2 | 20.8 | 22 |
| U.S.-chartered depository institutions, including IBFs; security repurchase agreements; asset | FL762051005 | 291.8 | 304.6 | 275.9 | 263.1 | 288.2 | 304.6 | 302 | 260.3 | 250.9 | 23 |
| Foreign banking offices in the U.S. including IBFs; federal funds and security repurchase agreements; asset | FL752050005 | 275.9 | 265.3 | 282.2 | 289.4 | 301.9 | 265.3 | 336.6 | 349.7 | 333.8 | 24 |
| Foreign banking offices in the U.S., including IBFs; federal funds; asset (2) | FL752052005 | 0.2 | 0.3 | 0.5 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | 25 |
| Foreign banking offices in the U.S., including IBFs; security repurchase agreements; asset | FL752051005 | 275.7 | 265 | 281.7 | 289.1 | 301.6 | 265 | 336.3 | 349.4 | 333.5 | 26 |
| Credit unions; federal funds and security repurchase agreements held by Corporate Credit Unions (net of liabilities before 2002:Q4); asset | FL472050053 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 27 |
| Credit unions; federal funds held by Corporate Credit Unions; asset | FL472052053 | 0.1 | 0 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 28 |
| Credit unions; security repurchase agreements held by Corporate Credit Unions; asset | FL472051053 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 29 |
| Property-casualty insurance companies; security repurchase agreements, including those held by U.S. residual market reinsurers; asset | FL512051005 | 2.2 | 2.3 | 1.4 | 1.6 | 1.8 | 2.3 | 2.5 | 2.5 | 3.4 | 30 |
| Life insurance companies, general accounts; security repurchase agreements, including those held by U.S. captive reinsurers; asset | FL542051075 | 9.8 | 4.5 | 7.9 | 6.1 | 5.7 | 4.5 | 5.8 | 6.5 | 7 | 31 |
| Private pension funds; security repurchase agreements; asset | FL572051005 | 18.7 | 19.5 | 18.9 | 19.1 | 19.3 | 19.5 | 19.8 | 20.2 | 20.4 | 32 |
| State and local government employee defined benefit retirement funds; security repurchase agreements; asset | FL222051043 | 27.6 | 48.2 | 20 | 19.9 | 32.6 | 48.2 | 59.4 | 21.2 | 13.6 | 33 |
| Money market funds; security repurchase agreements; asset | FL632051000 | 2495.7 | 2976.6 | 2376.9 | 2595.9 | 2743.7 | 2976.6 | 3235.2 | 3233.1 | 2948.8 | 34 |
| Mutual funds; security repurchase agreements (net); asset | FL652051003 | 19.7 | 25.9 | 11.9 | 25.1 | 26.8 | 25.9 | 34.9 | 40.4 | 38.8 | 35 |
| Government-sponsored enterprises; federal funds and security repurchase agreements; asset | FL402050005 | 209.7 | 252.2 | 218.2 | 277.3 | 304.5 | 252.2 | 363.1 | 376.6 | 304.1 | 36 |
| Government-sponsored enterprises; federal funds held by FHLB; asset (3) | FL402052033 | 47.4 | 65.9 | 57.3 | 71.7 | 90.2 | 65.9 | 86.9 | 99.3 | 87.1 | 37 |
| Security brokers and dealers; security repurchase agreements; asset | FL662051003 | 1255.4 | 1461.5 | 1324.4 | 1345.5 | 1330.5 | 1461.5 | 1660.6 | 1637.9 | 1604.2 | 38 |
| Holding companies; security repurchase agreements; asset | FL732051003 | 26.1 | 36.6 | 17.8 | 23.8 | 29.2 | 36.6 | 36 | 35.9 | 35.3 | 39 |
| Other financial business; security repurchase agreements; asset | FL502051005 | 3.6 | 3.9 | 3.9 | 4.6 | 4.4 | 3.9 | 5 | 4.3 | 5.1 | 40 |
| Rest of the world; security repurchase agreements; asset | FL262051005 | 1367.4 | 1416.2 | 1327.7 | 1361.6 | 1403 | 1416.2 | 1529.6 | 1450.6 | 1645.4 | 41 |
| Instrument discrepancies; federal funds and security repurchase agreements | FL902050005 | -390 | -507.7 | -411.4 | -306.4 | -386.5 | -507.7 | -801.4 | -772.5 | -882.9 | 42 |
| Interest rates and price indexes; effective Federal funds rate (percent) (4) | FL072052006 | 0.08 | 4.1 | 0.2 | 1.21 | 2.56 | 4.1 | 4.65 | 5.08 | 5.33 | 43 |
| Monetary authority; security repurchase agreements, reverse repurchase agreement operations; liability (5) | FL712151103 | 1904.6 | 2553.7 | 1872 | 2329.7 | 2425.9 | 2553.7 | 2375.2 | 2034.3 | 1557.6 | 44 |
| Money market funds; security repurchase agreements (Federal Reserve reverse repurchase agreement operations); asset (6) | FL632051103 | 1739.7 | 2339.6 | 1658.1 | 2062.9 | 2220.6 | 2339.6 | 2230.8 | 1906 | 1484 | 45 |
| Domestic financial sectors, excluding money market funds; security repurchase agreements (Federal Reserve Reverse Repurchase Agreement Operational Exercise); asset (7) | FL792051115 | 164.9 | 214.1 | 213.9 | 266.9 | 205.3 | 214.1 | 144.3 | 128.3 | 73.6 | 46 |
NOTES
- Detailed data on federal funds and security repurchase agreements are available beginning 2012:Q1 for U.S.-chartered depository 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: December 7, 2023