Federal Reserve Balance Sheet Update: Week Of September 23
Total Federal Reserve balance sheet assets for the week of September 23 of $2,133 billion ($44.5
billion higher compared to the prior week's $2,088 bn), and this time just $41
billion shy of the all time high of $2,174 billion recorded on April
22, consisting of:
- Securities held outright: $1,579 billion
(an increase of $100 billion MoM, resulting from $22 billion in new
Treasury purchases, $65 billion increase in MBS and $13 billion in Agency Debt), or $46.1 billion increase sequentially
- Net borrowings: $307.3 billion
- Float, liquidity swaps, Maiden Lane and other assets: $246.7
a $1.6 billion decrease based on a 2.0 billion reduction in CPFF and a $2.0 million reduction in liquidity swaps (and other net changes).
Foreign holdings increased by $11.6 billion to 2,854 billion.
The ratio of Fed assets to the monetary base has not budged and in fact has slowly expanded over the past 3 weeks from 1.17x to 1.19x. The monetary base at Sept. 23 was $1,790 billion. The Fed continues to be unable to extract benefits monetary from its burgeoning balance sheet.