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Interest Rates · November 5, 2026 · 2 min read

Fed H.4.1: Wednesday assets rise while weekly-average securities fall

By Econ Data Tools Editorial Team

Published November 5, 2026 • Updated November 5, 2026

The November 5 release separates November 4 snapshot levels from weekly averages. Reserve balances rose and Treasury cash fell on the weekly-average measure.

The Federal Reserve released its weekly H.4.1 balance-sheet report on November 5. In the consolidated statement, total assets on Wednesday, November 4 were $6,748,145 million, up $2,510 million from October 28. That is a comparison between two Wednesday snapshots, not a comparison of weekly averages. The Wednesday statement lists securities held outright at $6,464,646 million, up $2,195 million over the week. Treasury securities accounted for that increase. Mortgage-backed securities were $1,883,522 million, unchanged between those two Wednesdays. These observations do not support calling the latest Wednesday balance sheet an across-the-board securities runoff. Table 1 instead reports averages of daily figures for the week ending November 4. On that basis, securities held outright averaged $6,464,213 million, down $4,275 million from the previous weekly average. Mortgage-backed securities averaged $1,883,522 million, down $6,660 million. Different measurement windows can produce different weekly changes without contradicting each other. Reserve balances with Federal Reserve Banks averaged $2,930,088 million, up $36,318 million from the prior weekly average. The Treasury General Account averaged $957,175 million, down $42,552 million. Their Wednesday levels were $2,962,804 million and $936,248 million respectively. The average and Wednesday columns should not be mixed in one claimed change. The weekly-average reverse-repurchase-agreement total was $340,951 million, of which $338,205 million was in foreign official and international accounts and $2,745 million in the other category. The combined total is not simply the domestic overnight reverse-repo facility. The report notes that rounding can keep components from summing exactly. H.4.1 describes the Federal Reserve balance sheet and factors affecting reserve balances. It does not by itself establish a new policy decision, demonstrate that all money markets are functioning smoothly or prove a particular cause for Treasury cash movements. Readers comparing releases should keep the date, table and measurement window consistent.

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