Editing Federal Reserve (section)

== Balance sheet ==
[[File:Federal reserve assets held.webp|thumb|center|800px|Federal reserve assets held
{{Legend|#929292|outline=#5E5E5E|Other assets}}
{{Legend|#FFD932|outline=#FFD932|[[US Treasuries]]}}
{{Legend|#00A2FF|outline=#0076BA|[[Mortgage-backed security]]}}
]]
[[File:Consolidated Statement of Condition of all Federal Reserve Banks-ASSETS.gif|thumb|right|Total combined assets for all 12 Federal Reserve Banks, 2007–2009]]
[[File:Consolidated Statement of Condition of All Federal Reserve Banks-LIABILITIES.png|thumb|right|Total combined liabilities for all 12 Federal Reserve Banks, 2007–2009]]

One of the keys to understanding the Federal Reserve is the Federal Reserve balance sheet (or [[Balance sheet|balance statement]]). In accordance with Section 11 of the [[Federal Reserve Act]], the [[board of governors]] of the Federal Reserve System publishes once each week the "Consolidated Statement of Condition of All Federal Reserve Banks" showing the condition of each Federal Reserve bank and a consolidated statement for all Federal Reserve banks. The board of governors requires that excess earnings of the Reserve Banks be transferred to the Treasury as interest on Federal Reserve notes.<ref>{{Cite web |date=June 2009 |title=96th Annual Report 2008 Federal Reserve |url=http://www.federalreserve.gov/boarddocs/rptcongress/annual08/pdf/AR08.pdf |access-date=August 29, 2011 |publisher=Board of Governors of the Federal Reserve System}}; {{Cite web |title=Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks |url=http://www.federalreserve.gov/releases/h41/Current |access-date=March 20, 2008 |publisher=Federal Reserve}}</ref>

The Federal Reserve releases its balance sheet every Thursday.<ref>{{Cite web |title=The Fed – Factors Affecting Reserve Balances – H.4.1 – Release Dates |url=https://www.federalreserve.gov/releases/h41 |access-date=October 15, 2020 |website=www.federalreserve.gov |language=en}}</ref> Below is the balance sheet {{As of|2021|April|8|lc=y}} (in billions of dollars):

{| cellpadding="5" cellspacing="5" style="float:left;"

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| style="vertical-align:top;" |
{| cellpadding="5" cellspacing="0" style="margin:auto; border:1px solid black;border-color:black;border-collapse:collapse;"

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! colspan="3" style="background:#ffdead;border-bottom:1px solid black;" | ASSETS:

|-
| Gold Stock
| &nbsp;
| style="text-align:right;" | 11.04

|-
| Special Drawing Rights Certificate Acct.
| &nbsp;
| style="text-align:right;" | 5.20

|-
| Treasury Currency Outstanding (Coin)
| &nbsp;
| style="text-align:right;" | 1.46

|-
| Securities, unamortized premiums and discounts, repurchase agreements, and loans
| &nbsp;
| 7550.43

|-
| {{Space|3}}Securities Held Outright
| &nbsp;
| style="text-align:right;" | 7146.06

|-
| {{Space|6}}[[United States Treasury security|U.S. Treasury Securities]]
| &nbsp;
| style="text-align:right;" | 4959.03

|-
| {{Space|9}}Bills
| &nbsp;
| style="text-align:right;" | 326.04

|-
| {{Space|9}}Notes and Bonds, nominal
| &nbsp;
| style="text-align:right;" | 4251.66

|-
| {{Space|9}}Notes and Bonds, inflation-indexed
| &nbsp;
| style="text-align:right;" | 334.76

|-
| {{Space|9}}Inflation Compensation
| &nbsp;
| style="text-align:right;" | 46.57

|-
| {{Space|6}}[[Agency debt|Federal Agency Debt Securities]]
| &nbsp;
| style="text-align:right;" | 2.35

|-
| {{Space|6}}Mortgage-Backed Securities
| &nbsp;
| style="text-align:right;" | 2184.68

|-
| Unamortized premiums on securities held outright
| &nbsp;
| style="text-align:right;" | 351.11

|-
| Unamortized discounts on securities held outright
| &nbsp;
| style="text-align:right;" | -9.56

|-
|  Repurchase Agreements
| &nbsp;
| style="text-align:right;" | 0

|-
| Loans
| &nbsp;
| style="text-align:right;" | 62.81

|-
| Net portfolio holdings of Commercial Paper Funding Facility II LLC
| &nbsp;
| style="text-align:right;" | 8.56

|-
| Net portfolio holdings of Corporate Credit Facilities LLC
| &nbsp;
| style="text-align:right;" | 25.94

|-
| Net portfolio holdings of MS Facilities LLC (Main Street Lending Program)
| &nbsp;
| style="text-align:right;" | 30.96

|-
| Net portfolio holdings of Municipal Liquidity Facility LLC
| &nbsp;
| style="text-align:right;" | 11.41

|-
| Net portfolio holdings of TALF II LLC
| &nbsp;
| style="text-align:right;" | 5.28

|-
| Items in process of collection
| &nbsp;
| style="text-align:right;" | 0.04

|-
| Bank premises
| &nbsp;
| style="text-align:right;" | 1.91

|-
| [[Central bank liquidity swap]]s
| &nbsp;
| style="text-align:right;" | 0.87

|-
| Foreign currency denominated assets
| &nbsp;
| style="text-align:right;" | 21.37

|-
| Other Assets
| &nbsp;
| style="text-align:right;" | 34.42

|-
! style="text-align:left" | Total Assets
| &nbsp;
! style="text-align:right;" | 7708.88

|}
| style="vertical-align:top;" |
{| cellpadding="5" cellspacing="0" style="float:left; border:1px solid black;border-color:black;border-collapse:collapse;"

|-
! colspan="3" style="background:#ffdead;border-bottom:1px solid black;" | LIABILITIES:

|-
| Federal Reserve notes, net of F.R. Bank holdings
| &nbsp;
| style="text-align:right;" | 2101.19

|-
| Reverse repurchase agreements
| &nbsp;
| style="text-align:right;" | 272.07

|-
| Deposits
| &nbsp;
| style="text-align:right;" | 5234.02

|-
| {{Space|3}}Term deposits held by depository institutions
| &nbsp;
| style="text-align:right;" | 0

|-
| {{Space|3}}Other deposits held by depository institutions
| &nbsp;
| style="text-align:right;" | 3944.06

|-
| {{Space|3}}U.S. Treasury, general account
| &nbsp;
| style="text-align:right;" | 954.97

|-
| {{Space|3}}Foreign official
| &nbsp;
| style="text-align:right;" | 32.25

|-
| {{Space|3}}Other Deposits
| &nbsp;
| style="text-align:right;" | 302.74

|-
| Deferred availability cash items
| &nbsp;
| style="text-align:right;" | 0.15

|-
| Treasury contributions to credit facilities
| &nbsp;
| style="text-align:right;" | 51.78

|-
| Other liabilities and accrued dividends
| &nbsp;
| style="text-align:right;" | 10.40

|-
! style="text-align:left" | Total liabilities
| &nbsp;
! style="text-align:right;" | 7669.62

|}
| style="vertical-align:top;" |
{| cellpadding="5" cellspacing="0" style="float:left; border:1px solid black;border-color:black;border-collapse:collapse;"

|-
! colspan="3" style="background:#ffdead;border-bottom:1px solid black;" | CAPITAL <small>(AKA Net Equity)</small>

|-
| Capital Paid In
| &nbsp;
| style="text-align:right;" | 32.48

|-
| Surplus
| &nbsp;
| style="text-align:right;" | 6.79

|-
| Other Capital
| &nbsp;
| style="text-align:right;" | 0

|-
! style="text-align:left" | Total Capital
| &nbsp;
! style="text-align:right;" | 39.27

|-
! colspan="3" style="background:#ffdead;border:1px solid black;" | MEMO <small>(off-balance-sheet items)</small>

|-
| style="width:100px;" | Marketable securities held in custody for foreign official and international accounts
| &nbsp;
| style="text-align:right;" | 3548.94

|-
| Marketable{{Space|3}}U.S. Treasury Securities
| &nbsp;
| style="text-align:right;" | 3114.90

|-
| Federal agency debt and mortgage-backed securities
| &nbsp;
| style="text-align:right;" | 346.41

|-
| Other securities
| &nbsp;
| style="text-align:right;" | 87.62

|-
| Securities lent to dealers
| &nbsp;
| style="text-align:right;" | 40.45

|-
| {{Space|3}}Overnight
| &nbsp;
| style="text-align:right;" | 40.45

|-
| U.S. Treasury securities
| &nbsp;
| style="text-align:right;" | 40.45

|-
| Federal agency debt securities

| &nbsp;
| style="text-align:right;" | 0

|}

|}
{{Clear}}

In addition, the balance sheet also indicates which assets are held as collateral against [[Federal Reserve Notes]].

{| cellpadding="5" cellspacing="0" style="border:1px solid black;border-color:black;border-collapse:collapse;"
! colspan="3" style="background:#ffdead; border-bottom:1px solid black;"|Federal Reserve Notes and Collateral

|-
| Federal Reserve Notes Outstanding
| &nbsp;
| style="text-align:right;"|2255.55

|-
| {{Space|3}}Less: Notes held by F.R. Banks
| &nbsp;
| style="text-align:right;"|154.35

|-
| {{Space|3}}Federal Reserve notes to be collateralized
| &nbsp;
| style="text-align:right;"|2101.19

|-
| Collateral held against Federal Reserve notes
| &nbsp;
| style="text-align:right;"|2101.19

|-
| {{Space|3}}Gold certificate account
| &nbsp;
| style="text-align:right;"|11.04

|-
| {{Space|3}}Special drawing rights certificate account
| &nbsp;
| style="text-align:right;"|5.20

|-
| {{Space|3}}U.S. Treasury, agency debt, and mortgage-backed securities pledged
| &nbsp;
| style="text-align:right;"|2084.96

|-
| {{Space|3}}Other assets pledged
| &nbsp;
| style="text-align:right;"|0

|}
As of August 2024, the Fed's total assets on balance sheet are $7.139 trillion.<ref>{{Cite web |date=2024-08-22 |title=Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level |url=https://fred.stlouisfed.org/series/WALCL |access-date=2024-08-27 |website=fred.stlouisfed.org |language=en}}</ref>