FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks June 16, 2022

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at 

Federal Reserve Banks

Week ended

Jun 15, 2022 Jun 8, 2022 Jun 16, 2021

Wednesday

Jun 15, 2022

Reserve Bank credit 8,892,848 + 12,285 + 928,125 8,896,577

Securities held outright1 8,489,408 + 8,448 +1,064,044 8,492,644

U.S. Treasury securities 5,770,456 - 711 + 628,607 5,762,730

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,972,033 - 1,325 + 555,176 4,964,082

Notes and bonds, inflation-indexed2 382,966 0 + 36,737 382,966

Inflation compensation3 89,412 + 614 + 36,693 89,638

Federal agency debt securities2 2,347 0 0 2,347

Mortgage-backed securities4 2,716,605 + 9,159 + 435,437 2,727,567

Unamortized premiums on securities held outright5 336,137 - 593 - 14,379 335,858

Unamortized discounts on securities held outright5 -24,631 - 120 - 10,684 -24,867

Repurchase agreements6 0 0 0 0

Foreign official 0 0 0 0

Others 0 0 0 0

Loans 21,896 + 1,322 - 65,947 22,658

Primary credit 2,705 + 1,776 + 2,195 3,706

Secondary credit 0 0 0 0

Seasonal credit 3 0 - 6 3

Primary Dealer Credit Facility 0 0 0 0

Paycheck Protection Program Liquidity Facility 19,188 - 455 - 68,136 18,949

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,554 0

Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 25,854 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 26,641 - 36 - 3,920 26,363

Net portfolio holdings of Municipal Liquidity Facility LLC7 5,537 + 1 - 5,197 5,538

Net portfolio holdings of TALF II LLC7 2,196 + 1 - 2,566 2,196

Float -127 + 29 - 2 -168

Central bank liquidity swaps8 199 + 16 - 301 199

Other Federal Reserve assets9 35,593 + 3,219 + 1,486 36,155

Foreign currency denominated assets10 18,248 - 419 - 3,348 18,124

Gold stock 11,041 0 0 11,041

Special drawing rights certificate account 5,200 0 0 5,200

Treasury currency outstanding11 51,149 + 14 + 563 51,149

Total factors supplying reserve funds 8,978,486 + 11,880 + 925,341 8,982,091

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and 

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jun 15, 2022 Jun 8, 2022 Jun 16, 2021

Wednesday

Jun 15, 2022

Currency in circulation11 2,276,559 - 2,623 + 98,050 2,276,909

Reverse repurchase agreements12 2,441,747 + 129,540 +1,680,466 2,421,604

Foreign official and international accounts 265,979 + 3,871 + 46,521 258,680

Others 2,175,768 + 125,670 +1,633,945 2,162,924

Treasury cash holdings 94 + 3 + 51 92

Deposits with F.R. Banks, other than reserve balances 907,814 - 59,688 - 160,837 1,027,760

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 656,870 - 66,514 + 2,981 769,937

Foreign official 7,618 - 3 - 19,542 7,435

Other13 243,326 + 6,829 - 144,276 250,388

Treasury contributions to credit facilities14 17,940 0 - 32,338 17,940

Other liabilities and capital15 50,379 + 99 - 3,966 48,180

Total factors, other than reserve balances, 

absorbing reserve funds 5,694,532 + 67,330 +1,581,425 5,792,486

Reserve balances with Federal Reserve Banks 3,283,954 - 55,451 - 656,084 3,189,605

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of 

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been 

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest 

basis.

6. Cash value of agreements.

7. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

8. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned 

to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the 

foreign central bank.

9. Includes bank premises, accrued interest, and other accounts receivable.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of 

$1.2 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jun 15, 2022 Jun 8, 2022 Jun 16, 2021

Wednesday

Jun 15, 2022

Securities held in custody for foreign official and international 

accounts 3,397,768 + 3,142 - 140,677 3,400,993

Marketable U.S. Treasury securities1 2,991,847 + 2,089 - 106,654 2,994,035

Federal agency debt and mortgage-backed securities2 322,585 + 978 - 27,964 323,802

Other securities3 83,336 + 75 - 6,059 83,156

Securities lent to dealers 45,675 + 6,431 + 9,292 47,598

Overnight facility4 45,675 + 6,431 + 9,292 47,598

U.S. Treasury securities 45,675 + 6,431 + 9,292 47,598

Federal agency debt securities 0 0 0 0

Note: Components may not sum to totals because of rounding.

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral 

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the 

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.
H.4.1

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 15, 2022

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 1,152 2,574 0 18,931 0 ... 22,658

U.S. Treasury securities2

Holdings 79,168 333,462 816,561 2,074,069 1,028,941 1,430,529 5,762,730

Weekly changes + 24,011 - 35,743 + 9,027 - 9,367 + 2,136 + 1,272 - 8,663

Federal agency debt securities3

Holdings 0 0 0 0 2,134 213 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 1 54 2,062 60,515 2,664,934 2,727,567

Weekly changes 0 0 0 - 10 - 482 + 20,612 + 20,121

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 14,081 ... ... 14,081

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907

Loans held by TALF II LLC7 0 0 0 1,141 ... ... 1,141

Repurchase agreements8 0 0 ... ... ... ... 0

Central bank liquidity swaps9 199 0 0 0 0 0 199

Reverse repurchase agreements8 2,421,604 0 ... ... ... ... 2,421,604

Term deposits 0 0 0 ... ... ... 0

Note: Components may not sum to totals because of rounding.

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility (PPPLF) 

and other credit extensions. A component of PPPLF loans presented in the Within 15 day category has reached maturity and is recognized as 

performing loans based upon the underlying guarantee of the collateral by the Small Business Administration. Loans exclude the loans from the 

Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II LLC, and from the Federal Reserve Bank of Boston 

(FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's statement of condition, respectively, consistent with 

consolidation under generally accepted accounting principles.

2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original 

face value of such securities.

3. Face value.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Book value of the loan participations held by the MS Facilities LLC.

6. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 

7. Book value of the loans held by the TALF II LLC. 

8. Cash value of agreements.

9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to 

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign 

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Jun 15, 2022

Mortgage-backed securities held outright1 2,727,567

Residential mortgage-backed securities 2,718,697

Commercial mortgage-backed securities 8,870

Commitments to buy mortgage-backed securities2 53,787

Commitments to sell mortgage-backed securities2 3,281

Cash and cash equivalents3 0

1. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within 

180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed 

securities generally settle within three business days.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Jun 15, 2022

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

MS Facilities LLC (Main Street Lending Program) 13,591 12,212 14,152 26,363

Municipal Liquidity Facility LLC 2,907 2,907 2,631 5,538

TALF II LLC 1,171 1,141 1,056 2,196

Note: Components may not sum to totals because of rounding.

1. Book value. This amount was eliminated when preparing the Federal Reserve Banks' statement of condition consistent with consolidation under 

generally accepted accounting principles. Refer to the note on consolidation accompanying table 6. Loans are extended from the Federal Reserve 

Bank to the LLC upon settlement of the investment activity.

2. Outstanding amount of facility asset purchases:

a. For the MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 updated as of March 31, 2022.

b. For the Municipal Liquidity Facility LLC includes municipal notes at book value. Asset balances from trading activity may be reported on

 a one-day lag after the transaction date.

c. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury 

contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash 

and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are 

excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal 

Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

Jun 15, 2022 Jun 8, 2022 Jun 16, 2021

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,253 - 3 + 15

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,826,293 + 12,314 + 917,259

Securities held outright1 8,492,644 + 11,458 +1,008,402

U.S. Treasury securities 5,762,730 - 8,663 + 608,959

Bills2 326,044 0 0

Notes and bonds, nominal2 4,964,082 - 9,276 + 536,710

Notes and bonds, inflation-indexed2 382,966 0 + 35,707

Inflation compensation3 89,638 + 614 + 36,542

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,727,567 + 20,121 + 399,443

Unamortized premiums on securities held outright5 335,858 - 687 - 15,690

Unamortized discounts on securities held outright5 -24,867 - 385 - 10,926

Repurchase agreements6 0 0 0

Loans7 22,658 + 1,927 - 64,527

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,554

Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 25,844

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 26,363 - 324 - 4,166

Net portfolio holdings of Municipal Liquidity Facility LLC8 5,538 + 1 - 5,198

Net portfolio holdings of TALF II LLC8 2,196 0 - 2,566

Items in process of collection (0) 62 - 3 - 1

Bank premises 620 + 5 - 1,297

Central bank liquidity swaps9 199 + 16 - 301

Foreign currency denominated assets10 18,124 - 402 - 3,465

Other assets11 35,535 + 2,562 + 2,283

Total assets (0) 8,932,420 + 14,166 + 868,163

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

Jun 15, 2022 Jun 8, 2022 Jun 16, 2021

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,227,101 - 1,985 + 97,556

Reverse repurchase agreements12 2,421,604 + 17,290 +1,677,844

Deposits (0) 4,217,365 - 363 - 872,413

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,189,605 - 102,997 - 716,131

U.S. Treasury, General Account 769,937 + 86,045 + 4,823

Foreign official 7,435 - 1,299 - 19,520

Other13 (0) 250,388 + 17,887 - 141,584

Deferred availability cash items (0) 229 + 28 + 71

Treasury contributions to credit facilities14 17,940 0 - 32,338

Other liabilities and accrued dividends15 6,508 - 809 - 4,627

Total liabilities (0) 8,890,747 + 14,161 + 866,093

Capital accounts

Capital paid in 34,887 + 4 + 2,069

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 41,672 + 4 + 2,069

Note: Components may not sum to totals because of rounding.

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

4. Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. The current face value shown is the remaining principal balance of the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been 

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest 

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection 

Program Liquidity Facility, and other credit extensions.

8. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on 

consolidation below.

9. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to 

the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign 

central bank.

10. Revalued daily at current foreign currency exchange rates.

11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of 

$1.2 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 15, 2022

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificates and special drawing 

rights certificates 16,237 544 5,271 537 763 1,203 2,247 1,093 461 263 440 1,279 2,136

Coin 1,253 18 24 107 46 193 95 223 25 42 93 153 234

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,826,293 176,328 4,517,350 202,265 355,343 613,662 575,998 602,176 138,379 69,360 137,618 451,568 986,246

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 26,363 26,363 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 5,538 0 5,538 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 2,196 0 2,196 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 199 9 69 7 19 40 6 8 4 1 2 5 28

Foreign currency denominated 

assets4 18,124 780 6,313 672 1,771 3,634 590 687 365 91 187 435 2,598

Other assets5 36,216 810 17,412 917 1,491 2,803 2,410 2,417 844 421 844 1,917 3,931

Interdistrict settlement account 0 - 14,537 + 272,941 - 19,444 - 72,463 - 48,689 + 9,766 - 10,999 + 4,732 - 542 - 10,267 - 8,352 - 102,147

Total assets 8,932,420 190,315 4,827,116 185,062 286,970 572,845 591,112 595,605 144,811 69,637 128,916 447,005 893,026

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 15, 2022 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes, net 2,227,101 72,664 701,983 60,581 103,192 151,706 337,188 127,664 71,339 33,856 58,713 195,475 312,741

Reverse repurchase agreements6 2,421,604 48,480 1,241,560 55,632 96,702 168,753 158,437 165,540 38,032 17,170 37,801 124,155 269,340

Deposits 4,217,365 54,377 2,862,615 67,063 82,754 243,059 93,294 300,186 34,308 18,162 31,715 125,803 304,029

Depository institutions 3,189,605 54,364 2,028,618 67,062 82,720 242,628 93,262 107,446 34,302 17,972 31,648 125,586 303,998

U.S. Treasury, General Account 769,937 0 769,937 0 0 0 0 0 0 0 0 0 0

Foreign official 7,435 2 7,409 1 4 8 1 2 1 0 0 1 6

Other7 250,388 12 56,651 0 30 423 30 192,738 5 190 68 216 25

Earnings remittances due to the U.S. 

Treasury8 1,797 26 962 36 61 73 158 123 16 4 18 113 207

Treasury contributions to credit facilities9 17,940 13,891 4,049 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 4,941 -890 1,413 254 319 811 704 581 210 178 234 379 747

Total liabilities 8,890,747 188,548 4,812,582 183,566 283,026 564,403 589,780 594,094 143,905 69,370 128,482 445,926 887,064

Capital

Capital paid in 34,887 1,474 12,171 1,245 3,280 7,081 1,111 1,254 769 232 364 917 4,990

Surplus 6,785 292 2,363 252 663 1,361 221 257 137 34 70 163 973

Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0

Total liabilities and capital 8,932,420 190,315 4,827,116 185,062 286,970 572,845 591,112 595,605 144,811 69,637 128,916 447,005 893,026

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 15, 2022 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities 

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between 

the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, 

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 

Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other credit extensions.

2. Includes assets purchased pursuant to terms of the credit facility and amounts related to Treasury contributions to the facility. Refer to note on consolidation below.

3. Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate 

equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

4. Revalued daily at current foreign currency exchange rates.

5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable. 

6. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.

7. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial market utilities, and deposits held by 

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury, 

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after 

providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank's allotted surplus cap.

9. Book value. Amount of equity investments in MS Facilities LLC of $13.9 billion, Municipal Liquidity Facility LLC of $2.9 billion, and TALF II LLC of $1.2 billion.

 

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal 

Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the 

FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans 

or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate 

Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began 

extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount 

provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose 

vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are 

used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help 

ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are 

used to secure the loan from the FRBB.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with 

generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the 

statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs 

consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in 

table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this 

table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 15, 2022

Federal Reserve notes outstanding 2,527,237

Less: Notes held by F.R. Banks not subject to collateralization 300,135

Federal Reserve notes to be collateralized 2,227,101

Collateral held against Federal Reserve notes 2,227,101

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,210,864

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,492,644

Less: Face value of securities under reverse repurchase agreements 2,640,119

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,852,525

Note: Components may not sum to totals because of rounding.

1. Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to 

adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase 

agreements.

2. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.