FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks February 17, 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

Feb 16, 2022 Feb 9, 2022 Feb 17, 2021

Wednesday

Feb 16, 2022

Reserve Bank credit 8,858,545 + 20,847 +1,346,131 8,872,950

Securities held outright1 8,417,836 + 24,677 +1,436,997 8,445,579

U.S. Treasury securities 5,735,288 + 5,326 + 923,144 5,738,619

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,949,625 + 4,973 + 827,270 4,952,826

Notes and bonds, inflation-indexed2 385,089 0 + 64,667 385,089

Inflation compensation3 74,529 + 352 + 31,207 74,659

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

Mortgage-backed securities4 2,680,201 + 19,351 + 513,853 2,704,613

Unamortized premiums on securities held outright5 350,628 - 595 + 1,270 350,324

Unamortized discounts on securities held outright5 -19,518 - 324 - 12,986 -20,185

Repurchase agreements6 0 0 - 714 0

Foreign official 0 0 - 714 0

Others 0 0 0 0

Loans 28,626 - 322 - 24,405 28,706

Primary credit 758 + 432 - 1,009 1,112

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Primary Dealer Credit Facility 0 0 - 265 0

Money Market Mutual Fund Liquidity Facility 0 0 - 1,729 0

Paycheck Protection Program Liquidity Facility 27,868 - 754 - 21,402 27,594

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,557 0

Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 26,269 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 29,177 - 73 - 4,093 28,980

Net portfolio holdings of Municipal Liquidity Facility LLC7 7,097 - 441 - 4,439 7,098

Net portfolio holdings of TALF II LLC7 2,542 0 - 3,863 2,542

Float -139 - 23 - 69 -167

Central bank liquidity swaps8 214 + 7 - 7,951 214

Other Federal Reserve assets9 42,082 - 2,058 + 1,210 29,858

Foreign currency denominated assets10 20,344 - 88 - 1,633 20,356

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,986 + 14 + 496 50,986

Total factors supplying reserve funds 8,946,115 + 20,773 +1,344,993 8,960,532

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

Feb 16, 2022 Feb 9, 2022 Feb 17, 2021

Wednesday

Feb 16, 2022

Currency in circulation11 2,232,103 + 1,747 + 130,078 2,234,394

Reverse repurchase agreements12 1,897,602 - 16,395 +1,692,539 1,901,462

Foreign official and international accounts 260,390 + 217 + 55,350 257,328

Others 1,637,212 - 16,612 +1,637,188 1,644,134

Treasury cash holdings 31 + 6 - 41 34

Deposits with F.R. Banks, other than reserve balances 947,435 + 9,140 - 862,591 960,654

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 692,541 + 6,157 - 874,500 709,261

Foreign official 5,790 + 572 - 16,512 7,251

Other13 249,104 + 2,410 + 28,421 244,141

Treasury contributions to credit facilities14 21,258 0 - 30,520 21,258

Other liabilities and capital15 47,712 - 1,787 - 5,538 46,010

Total factors, other than reserve balances, 

absorbing reserve funds 5,146,142 - 7,289 + 923,927 5,163,812

Reserve balances with Federal Reserve Banks 3,799,973 + 28,062 + 421,066 3,796,720

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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of 

$1.4 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

Feb 16, 2022 Feb 9, 2022 Feb 17, 2021

Wednesday

Feb 16, 2022

Securities held in custody for foreign official and international 

accounts 3,447,889 - 17,870 - 101,845 3,449,672

Marketable U.S. Treasury securities1 3,041,368 - 18,779 - 58,514 3,043,010

Federal agency debt and mortgage-backed securities2 323,600 + 533 - 36,749 324,071

Other securities3 82,921 + 376 - 6,582 82,591

Securities lent to dealers 39,612 + 2,843 + 12,797 42,884

Overnight facility4 39,612 + 2,843 + 12,797 42,884

U.S. Treasury securities 39,612 + 2,843 + 12,797 42,884

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, February 16, 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 532 1,217 237 26,721 0 ... 28,706

U.S. Treasury securities2

Holdings 86,572 324,187 735,457 2,191,349 991,620 1,409,433 5,738,619

Weekly changes - 32,969 + 38,539 - 2,531 - 12,186 - 20,484 + 36,386 + 6,755

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 37 2,094 66,430 2,636,051 2,704,613

Weekly changes 0 0 0 - 12 - 570 + 44,345 + 43,762

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 15,110 ... ... 15,110

Municipal notes held by Municipal 

Liquidity Facility LLC6 451 0 0 2,907 ... ... 3,358

Loans held by TALF II LLC7 0 0 0 1,286 ... ... 1,286

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

Central bank liquidity swaps9 214 0 0 0 0 0 214

Reverse repurchase agreements8 1,901,462 0 ... ... ... ... 1,901,462

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 and other 

credit extensions. 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 Feb 16, 2022

Mortgage-backed securities held outright1 2,704,613

Residential mortgage-backed securities 2,695,537

Commercial mortgage-backed securities 9,077

Commitments to buy mortgage-backed securities2 70,202

Commitments to sell mortgage-backed securities2 1,000

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 Feb 16, 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) 14,727 13,087 15,893 28,980

Municipal Liquidity Facility LLC 3,358 3,358 3,740 7,098

TALF II LLC 1,345 1,286 1,256 2,542

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 December 31, 2021.

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

Feb 16, 2022 Feb 9, 2022 Feb 17, 2021

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,271 + 19 - 291

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,804,425 + 48,862 +1,409,942

Securities held outright1 8,445,579 + 50,518 +1,448,613

U.S. Treasury securities 5,738,619 + 6,755 + 914,562

Bills2 326,044 0 0

Notes and bonds, nominal2 4,952,826 + 6,402 + 818,583

Notes and bonds, inflation-indexed2 385,089 0 + 64,667

Inflation compensation3 74,659 + 353 + 31,311

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,704,613 + 43,762 + 534,051

Unamortized premiums on securities held outright5 350,324 - 838 + 599

Unamortized discounts on securities held outright5 -20,185 - 993 - 13,457

Repurchase agreements6 0 0 - 500

Loans7 28,706 + 174 - 25,313

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,556

Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 26,240

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 28,980 - 278 - 4,285

Net portfolio holdings of Municipal Liquidity Facility LLC8 7,098 + 1 - 4,440

Net portfolio holdings of TALF II LLC8 2,542 0 - 3,863

Items in process of collection (0) 53 - 38 - 16

Bank premises 1,387 + 5 - 657

Central bank liquidity swaps9 214 + 14 - 7,951

Foreign currency denominated assets10 20,356 - 56 - 1,491

Other assets11 28,472 - 15,503 + 1,480

Total assets (0) 8,911,033 + 33,024 +1,353,631

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

Feb 16, 2022 Feb 9, 2022 Feb 17, 2021

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,184,708 + 2,953 + 131,369

Reverse repurchase agreements12 1,901,462 - 6,429 +1,699,743

Deposits (0) 4,757,374 + 37,404 - 443,631

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,796,720 + 1,743 + 388,849

U.S. Treasury, General Account 709,261 + 30,242 - 859,632

Foreign official 7,251 + 2,061 - 15,801

Other13 (0) 244,141 + 3,357 + 42,953

Deferred availability cash items (0) 220 + 12 + 39

Treasury contributions to credit facilities14 21,258 0 - 30,520

Other liabilities and accrued dividends15 5,549 - 841 - 4,633

Total liabilities (0) 8,870,572 + 33,100 +1,352,367

Capital accounts

Capital paid in 33,676 - 76 + 1,264

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 40,461 - 76 + 1,264

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.

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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of 

$1.4 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, February 16, 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 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075

Coin 1,271 16 24 115 51 182 111 231 20 37 90 160 233

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,804,425 146,712 4,965,144 185,376 324,344 588,481 514,198 478,930 114,668 78,257 116,909 388,232 903,177

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 28,980 28,980 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 7,098 0 7,098 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 2,542 0 2,542 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 214 10 72 8 18 44 10 8 4 2 2 4 31

Foreign currency denominated 

assets4 20,356 924 6,842 731 1,760 4,236 921 798 387 173 220 367 2,998

Other assets5 29,912 593 15,594 723 1,158 2,310 1,826 1,637 557 398 713 1,411 2,992

Interdistrict settlement account 0 + 4,731 - 213,436 - 7,999 - 1,892 - 15,219 + 59,170 + 79,111 + 20,079 - 187 + 16,343 + 62,755 - 3,454

Total assets 8,911,033 182,495 4,789,302 179,476 326,191 581,221 578,423 561,851 136,189 78,953 134,733 454,148 908,052

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, February 16, 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 2,184,708 72,170 702,088 59,668 102,600 152,390 327,311 125,235 64,285 33,020 56,109 190,006 299,826

Reverse repurchase agreements6 1,901,462 31,775 1,074,813 40,160 69,187 127,413 111,411 103,763 24,790 14,713 25,250 84,086 194,101

Deposits 4,757,374 62,207 2,989,999 77,910 150,110 292,502 137,676 330,852 46,108 30,804 52,751 178,707 407,748

Depository institutions 3,796,720 62,180 2,225,369 77,909 150,011 291,936 137,501 137,100 46,098 30,330 52,175 178,435 407,678

U.S. Treasury, General Account 709,261 0 709,261 0 0 0 0 0 0 0 0 0 0

Foreign official 7,251 2 7,225 1 3 8 2 2 1 0 0 1 6

Other7 244,141 25 48,144 0 96 558 173 193,751 9 474 576 272 64

Earnings remittances due to the U.S. 

Treasury8 2,509 36 1,464 50 93 160 153 129 16 16 19 113 257

Treasury contributions to credit facilities9 21,258 15,674 5,584 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 3,261 -1,254 1,353 191 216 601 557 375 168 151 186 257 459

Total liabilities 8,870,572 180,608 4,775,300 177,980 322,207 573,067 577,109 560,354 135,367 78,704 134,315 453,169 902,392

Capital

Capital paid in 33,676 1,594 11,639 1,244 3,321 6,793 1,094 1,239 685 215 348 817 4,687

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 8,911,033 182,495 4,789,302 179,476 326,191 581,221 578,423 561,851 136,189 78,953 134,733 454,148 908,052

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, February 16, 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 $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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 Feb 16, 2022

Federal Reserve notes outstanding 2,467,630

Less: Notes held by F.R. Banks not subject to collateralization 282,921

Federal Reserve notes to be collateralized 2,184,708

Collateral held against Federal Reserve notes 2,184,708

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,168,472

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,445,579

Less: Face value of securities under reverse repurchase agreements 1,920,240

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,525,339

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.