FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks December 31, 2020

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

Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Wednesday

Dec 30, 2020

Reserve Bank credit 7,350,410 + 4,827 +3,229,014 7,322,274

Securities held outright1 6,757,661 + 388 +3,017,726 6,730,731

U.S. Treasury securities 4,688,906 + 16,323 +2,359,995 4,688,916

Bills2 326,044 0 + 156,519 326,044

Notes and bonds, nominal2 4,007,193 + 15,050 +1,999,635 4,007,193

Notes and bonds, inflation-indexed2 312,024 + 1,199 + 185,648 312,024

Inflation compensation3 43,644 + 73 + 18,192 43,654

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

Mortgage-backed securities4 2,066,409 - 15,934 + 657,732 2,039,468

Unamortized premiums on securities held outright5 344,135 - 154 + 219,510 342,923

Unamortized discounts on securities held outright5 -5,439 + 22 + 7,844 -5,430

Repurchase agreements6 1,000 - 1 - 241,326 1,000

Foreign official 1,000 - 1 + 1,000 1,000

Others 0 0 - 242,326 0

Loans 56,977 - 1,247 + 56,951 56,701

Primary credit 1,785 - 360 + 1,770 1,735

Secondary credit 0 0 0 0

Seasonal credit 0 0 - 11 0

Primary Dealer Credit Facility 485 + 66 + 485 485

Money Market Mutual Fund Liquidity Facility 3,873 - 516 + 3,873 3,621

Paycheck Protection Program Liquidity Facility 50,834 - 437 + 50,834 50,860

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,557 0 + 8,557 8,557

Net portfolio holdings of Corporate Credit Facilities LLC7 46,455 + 107 + 46,455 46,532

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 53,517 + 3,632 + 53,517 54,073

Net portfolio holdings of Municipal Liquidity Facility LLC7 21,275 + 7 + 21,275 21,278

Net portfolio holdings of TALF II LLC7 12,663 + 114 + 12,663 12,664

Float -192 - 69 + 278 -761

Central bank liquidity swaps8 16,983 + 605 + 13,254 17,883

Other Federal Reserve assets9 36,816 + 1,420 + 12,308 36,122

Foreign currency denominated assets10 22,238 - 19 + 1,537 22,429

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,521 + 14 + 450 50,521

Total factors supplying reserve funds 7,439,411 + 4,823 +3,231,001 7,411,465

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

Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Wednesday

Dec 30, 2020

Currency in circulation11 2,081,540 + 10,130 + 275,660 2,086,909

Reverse repurchase agreements12 205,017 + 8,862 - 80,792 209,763

Foreign official and international accounts 204,753 + 8,856 - 61,003 209,111

Others 264 + 6 - 19,788 652

Treasury cash holdings 30 - 1 - 141 28

Deposits with F.R. Banks, other than reserve balances 1,866,256 + 7,479 +1,410,453 1,808,390

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,591,055 - 11,352 +1,208,502 1,613,514

Foreign official 21,830 + 4 + 16,648 21,831

Other13 253,372 + 18,827 + 185,304 173,045

Treasury contributions to credit facilities14 114,000 0 + 114,000 114,000

Other liabilities and capital15 50,412 - 762 + 5,511 49,404

Total factors, other than reserve balances,

absorbing reserve funds 4,317,254 + 25,706 +1,724,691 4,268,495

Reserve balances with Federal Reserve Banks 3,122,156 - 20,885 +1,506,310 3,142,970

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. Also includes net portfolio holdings of Maiden Lane LLC. 

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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion,

MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money

Market Mutual Fund Liquidity Facility of $1.5 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

Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Wednesday

Dec 30, 2020

Securities held in custody for foreign official and international

accounts 3,490,578 - 8,513 + 92,377 3,485,432

Marketable U.S. Treasury securities1 3,046,638 - 4,626 + 89,956 3,044,237

Federal agency debt and mortgage-backed securities2 357,359 - 3,888 - 1,545 354,616

Other securities3 86,581 + 2 + 3,966 86,578

Securities lent to dealers 29,127 + 1,524 - 5,865 32,200

Overnight facility4 29,127 + 1,524 - 5,865 32,200

U.S. Treasury securities 29,127 + 1,524 - 5,865 32,200

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, December 30, 2020

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 2,829 2,811 201 50,860 0 ... 56,701

U.S. Treasury securities2

Holdings 93,926 295,783 649,811 1,767,023 827,914 1,054,458 4,688,916

Weekly changes + 8,631 - 7,555 - 1,074 + 11,352 - 5,329 + 9 + 6,035

Federal agency debt securities3

Holdings 0 0 0 0 1,818 529 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 4 2,016 72,045 1,965,404 2,039,468

Weekly changes 0 0 0 - 91 - 1,467 - 45,548 - 47,106

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 0 0 ... ... ... 0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 16,481 ... ... 16,481

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 925 5,358 ... ... 6,283

Loans held by TALF II LLC8 0 0 0 3,552 ... ... 3,552

Repurchase agreements9 1,000 0 ... ... ... ... 1,000

Central bank liquidity swaps10 7,166 10,717 0 0 0 0 17,883

Reverse repurchase agreements9 209,763 0 ... ... ... ... 209,763

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 Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve

Bank of New York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, 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 commercial paper held by Commercial Paper Funding Facility II LLC.

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

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

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

9. Cash value of agreements.

10. 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 Dec 30, 2020

Mortgage-backed securities held outright1 2,039,468

Residential mortgage-backed securities 2,029,628

Commercial mortgage-backed securities 9,840

Commitments to buy mortgage-backed securities2 195,401

Commitments to sell mortgage-backed securities2 84

Cash and cash equivalents3 8

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 Dec 30, 2020

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

Commercial Paper Funding Facility II LLC 0 0 8,557 8,557

Corporate Credit Facilities LLC 14,116 14,315 32,217 46,532

MS Facilities LLC (Main Street Lending Program) 16,472 16,385 37,688 54,073

Municipal Liquidity Facility LLC 6,361 6,283 14,995 21,278

TALF II LLC 4,144 3,552 9,112 12,664

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 Commercial Paper Funding Facility II LLC includes commercial paper at book value.

b. For the Corporate Credit Facilities LLC includes exchange traded-funds at fair value and corporate bonds at book value. Asset balances

 from trading activity are reported on a one-day lag after the transaction date.

c. For the MS Facilities LLC (Main Street Lending Program) includes loan participations, net of an allowance for loan losses updated as of

 September 30, 2020, at face value.

d. 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.

e. 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 initially 15% of Treasury contributions to the credit facilities from the

following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, 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

Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,562 - 8 - 95

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,125,925 - 44,215 +3,019,014

Securities held outright1 6,730,731 - 41,072 +2,990,774

U.S. Treasury securities 4,688,916 + 6,035 +2,359,983

Bills2 326,044 0 + 156,519

Notes and bonds, nominal2 4,007,193 + 6,001 +2,000,643

Notes and bonds, inflation-indexed2 312,024 0 + 184,640

Inflation compensation3 43,654 + 33 + 18,180

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,039,468 - 47,106 + 630,791

Unamortized premiums on securities held outright5 342,923 - 2,096 + 218,346

Unamortized discounts on securities held outright5 -5,430 + 13 + 7,854

Repurchase agreements6 1,000 0 - 254,619

Loans7 56,701 - 1,060 + 56,659

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,557 0 + 8,557

Net portfolio holdings of Corporate Credit Facilities LLC8 46,532 + 122 + 46,532

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 54,073 + 1,919 + 54,073

Net portfolio holdings of Municipal Liquidity Facility LLC8 21,278 + 3 + 21,278

Net portfolio holdings of TALF II LLC8 12,664 + 1 + 12,664

Items in process of collection (0) 82 + 21 0

Bank premises 2,222 + 16 + 11

Central bank liquidity swaps9 17,883 + 1,050 + 14,155

Foreign currency denominated assets10 22,429 + 215 + 1,637

Other assets11 33,906 + 188 + 11,899

Total assets (0) 7,363,351 - 40,688 +3,189,725

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

Dec 30, 2020 Dec 23, 2020 Jan 1, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,037,973 + 9,754 + 278,546

Reverse repurchase agreements12 209,763 + 11,239 - 126,886

Deposits (0) 4,951,367 - 62,157 +2,919,408

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,142,977 - 34,333 +1,594,128

U.S. Treasury, General Account 1,613,514 + 30,206 +1,209,661

Foreign official 21,831 + 5 + 16,649

Other13 (0) 173,045 - 58,034 + 98,970

Deferred availability cash items (0) 843 + 580 + 118

Treasury contributions to credit facilities14 114,000 0 + 114,000

Other liabilities and accrued dividends15 10,203 - 66 + 3,859

Total liabilities (0) 7,324,150 - 40,650 +3,189,047

Capital accounts

Capital paid in 32,376 - 38 + 678

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,201 - 38 + 678

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, Money Market Mutual Fund

Liquidity 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. Also includes net portfolio

holdings of Maiden Lane LLC.

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 Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion,

MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money

Market Mutual Fund Liquidity Facility of $1.5 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, December 30, 2020

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 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045

Coin 1,562 31 40 131 86 206 154 258 32 43 106 182 292

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,125,925 163,601 3,669,978 167,566 222,742 446,250 523,097 396,436 113,097 74,769 116,936 342,607 888,846

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,557 0 8,557 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 46,532 0 46,532 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 54,073 54,073 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 21,278 0 21,278 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 12,664 0 12,664 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 17,883 849 6,010 644 1,528 3,775 887 694 293 140 189 212 2,663

Foreign currency denominated

assets4 22,429 1,060 7,608 803 1,908 4,712 1,107 867 366 175 235 265 3,324

Other assets5 36,211 2,405 15,871 901 1,183 2,604 2,737 2,039 691 478 872 2,069 4,361

Interdistrict settlement account 0 - 24,708 + 224,107 - 11,570 + 75,115 + 169,345 - 125,264 - 22,714 - 21,550 - 11,862 - 21,886 - 50,411 - 178,600

Total assets 7,363,351 197,843 4,018,129 159,003 303,324 628,056 404,900 378,717 93,408 64,012 96,901 296,127 722,930

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, December 30, 2020 (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 2,037,973 62,193 675,608 55,848 93,291 151,088 280,550 132,542 59,049 33,503 55,062 172,382 266,856

Reverse repurchase agreements6 209,763 4,711 108,607 4,786 6,563 13,147 15,459 11,716 3,314 1,982 3,336 10,109 26,034

Deposits 4,951,367 89,608 3,141,215 96,657 199,713 454,728 106,332 232,324 30,081 27,198 37,811 112,498 423,201

Depository institutions 3,142,977 89,586 1,445,220 96,656 198,967 453,967 106,318 123,414 30,080 27,050 37,763 110,781 423,175

U.S. Treasury, General Account 1,613,514 0 1,613,514 0 0 0 0 0 0 0 0 0 0

Foreign official 21,831 2 21,804 1 3 8 2 2 1 0 0 0 6

Other7 173,045 20 60,676 0 743 753 11 108,909 1 148 48 1,717 20

Earnings remittances due to the U.S.

Treasury8 722 5 410 12 22 49 38 29 12 3 11 25 106

Treasury contributions to credit facilities9 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 10,324 532 4,116 291 352 865 718 572 224 997 260 448 949

Total liabilities 7,324,150 196,050 4,004,955 157,595 299,941 619,877 403,097 377,184 92,681 63,683 96,479 295,463 717,146

Capital

Capital paid in 32,376 1,470 10,880 1,163 2,800 6,738 1,464 1,269 615 275 350 583 4,768

Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016

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

Total liabilities and capital 7,363,351 197,843 4,018,129 159,003 303,324 628,056 404,900 378,717 93,408 64,012 96,901 296,127 722,930

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, December 30, 2020 (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 Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, 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. Also includes Net portfolio

holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

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 a $6.825 billion surplus.

9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and

Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 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 Dec 30, 2020

Federal Reserve notes outstanding 2,192,177

Less: Notes held by F.R. Banks not subject to collateralization 154,203

Federal Reserve notes to be collateralized 2,037,973

Collateral held against Federal Reserve notes 2,037,973

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,021,737

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,731,731

Less: Face value of securities under reverse repurchase agreements 203,718

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,528,013

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.