cb101-treasury-example.md

Investor purchases $100 in treasury securities

Central Banking 101 by Joseph Wang has the following example on page 26:

So an investor purchases $100 of treasury securities from the treasury. I'd like to focus on that part of the example.

I've highlighted the relevant parts of the balance sheets here:

Here are the balance sheet changes in text form:

investor:assets:deposits:bank      -100
investor:assets:treasuries          100

bank:assets:reserves               -100
bank:liabilities:deposits          -100

treasury:liabilities:treasury_debt  100
treasury:assets:reserves            100

What about the Fed's H.4.1?

With the above changes, what is the effect on the H.4.1?

It seems it might be as follows (note the two last lines):

investor:assets:deposits:bank      -100
investor:assets:treasuries          100

bank:assets:reserves               -100
bank:liabilities:deposits          -100

treasury:liabilities:treasury_debt  100
treasury:assets:reserves            100

fed:liabilities:deposits:odhbdi    -100    ; other deposits held by depository institutions
fed:liabilities:deposits:tga        100    ; treasury general account

So here, the treasury and the fed both have their own balance sheets.

Is this correct? Or is that redundant?