What does the Federal Reserve owe, and what is its capital?

Currency in circulation is the Federal Reserve notes and the Treasury's coin and other money that are outside the Federal Reserve Banks and the Treasury: in the hands of the public and in bank vaults.

Federal Reserve notes, net of Reserve Bank holdings, are the dollar bills the Federal Reserve Banks have issued that the Reserve Banks themselves do not hold.

Treasury cash holdings are the currency and coin the Treasury holds.

Reverse repurchase agreements with foreign official and international accounts are what the Federal Reserve borrows from foreign central banks and international institutions against its securities.

Reverse repurchase agreements with others are what the Federal Reserve borrows overnight against its securities from money market funds, banks, housing-related agencies and primary dealers.

Deposits other than reserve balances are the balances of the Treasury, foreign official accounts and other institutions at the Federal Reserve Banks, not counting the reserve balances of banks.

Foreign official deposits are the balances that foreign central banks, governments and international institutions hold at the Federal Reserve Banks.

Other deposits are the balances at the Federal Reserve Banks of government-sponsored enterprises, financial market utilities and other institutions.

Term deposits are fixed-term deposits that banks place at the Federal Reserve Banks.

Total factors absorbing reserve funds are currency in circulation, reverse repurchase agreements, Treasury cash holdings, deposits other than reserve balances and other liabilities and capital.

Total liabilities are everything the Federal Reserve Banks owe: their notes, deposits, reverse repurchase agreements and other liabilities.

Capital paid in is the money the member banks have paid for their shares in the Federal Reserve Banks.

Surplus is the part of the Federal Reserve Banks' capital that comes from earnings they have kept.

Total capital is capital paid in, surplus and other capital accounts.

The deferred asset is the shortfall of the Federal Reserve Banks' earnings that has to be made up before they send earnings to the Treasury again. The H.4.1 shows it as a negative amount of earnings remittances due to the Treasury; here it is a positive amount, and zero in weeks when remittances were due.

The tables give each line's level on the Wednesday in millions of dollars, as the Board publishes it; the sentences and the chart round it to three figures, or to whole millions under a billion.