Few months ago a new Libraries panel introduced to Photoshop CC 2014.

Libraries (Window > Library) helps to store your favorite types of content text style, layer effects, smart objects, color, icons and logo to use them again and again not only in same project even in multiple projects and even share your Libraries with the team.

you may view the below image for reference, in the right image you may see other options such as create new library, collaborate to share library with other team members, rename and delete the library.

Just select any content from your psd and drag it into the library panel.

Another benefit, stored content in libraries can be accessed anywhere. Everything in library stores locally on the device and synch to Cc. If you are not online, you can use items stored in your local Libraries. Any changes will be synced once you get back online.

Few other features:

1. No limits to the number of Libraries.

2. Each library can contain up to 1000 assets.

3. Most assets are re-usable between Photoshop and Illustrator.