Federal Reserve Balance Sheet Update: Week Of September 1
Six months after our last update on the Federal Reserve's balance sheet in visual form, it is time to resume updating readers on what the biggest balance sheet in America looks like, especially since now that Fed is back in the monetization business. So without further ado, here is how Bernanke Capital, LLC looked as of September 1.
held outright: $2,045 billion
- Total Treasury holdings increased from $783 billion to 786 billion, as it bought another $3 billion in USTs as part of QE Lite. Look for this number to grow to well over $1.5 trillion in the next 6 months
- MBS holdings declined by $8 billion from $1.111 trillion to $1.103 trillion
- Agency holdings were flat at $157 billion
borrowings: unchanged at
$60 billion from the prior fortnight.
swaps, Maiden Lane and other assets: $184
billion. FX liquidity swaps are at $44 million. The "value" of Maiden Lane I increased to the highest since November 2008, and was at $16 billion. Maiden Lane II was at $23 billion, while AIA Aurora was $27 billion.
- The monetary base was $1.995 trillion
- Reserve balances with banks: $1.035 trillion
- Foreign holdings of USTs and MBS hit a fresh weekly high of $3.21 trillion.
- The ratio of Fed assets to the monetary basy was an elevated 1.15x, where it has been for a while.