FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks April 15, 2021

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

Apr 14, 2021 Apr 7, 2021 Apr 15, 2020

Wednesday

Apr 14, 2021

Reserve Bank credit 7,692,317 + 35,351 +1,496,297 7,753,650

Securities held outright1 7,165,867 + 30,612 +1,970,328 7,224,865

U.S. Treasury securities 4,969,645 + 21,421 +1,252,231 4,973,499

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,259,702 + 18,670 +1,119,115 4,262,999

Notes and bonds, inflation-indexed2 336,815 + 2,058 + 119,571 337,158

Inflation compensation3 47,084 + 693 + 13,545 47,298

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

Mortgage-backed securities4 2,193,875 + 9,191 + 718,097 2,249,019

Unamortized premiums on securities held outright5 351,262 + 362 + 100,934 351,737

Unamortized discounts on securities held outright5 -9,895 - 386 - 2,772 -10,419

Repurchase agreements6 0 0 - 201,596 0

Foreign official 0 0 - 1 0

Others 0 0 - 201,596 0

Loans 64,004 + 2,037 - 64,600 65,102

Primary credit 708 - 53 - 40,326 743

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Primary Dealer Credit Facility 25 0 - 35,565 25

Money Market Mutual Fund Liquidity Facility 0 - 171 - 51,944 0

Paycheck Protection Program Liquidity Facility 63,272 + 2,263 + 63,272 64,334

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,556 0 + 8,415 8,556

Net portfolio holdings of Corporate Credit Facilities LLC7 25,940 - 80 + 25,940 25,959

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,963 + 9 + 30,963 30,970

Net portfolio holdings of Municipal Liquidity Facility LLC7 11,414 - 121 + 11,414 11,416

Net portfolio holdings of TALF II LLC7 5,283 + 1 + 5,283 5,283

Float -234 - 127 + 32 -218

Central bank liquidity swaps8 795 - 73 - 392,268 795

Other Federal Reserve assets9 38,362 + 3,118 + 4,225 39,605

Foreign currency denominated assets10 21,417 + 126 + 902 21,515

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,616 + 14 + 426 50,616

Total factors supplying reserve funds 7,780,591 + 35,491 +1,497,624 7,842,022

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

Apr 14, 2021 Apr 7, 2021 Apr 15, 2020

Wednesday

Apr 14, 2021

Currency in circulation11 2,153,198 + 6,227 + 268,311 2,156,376

Reverse repurchase agreements12 265,990 + 26,470 - 18,474 281,853

Foreign official and international accounts 231,696 + 5,853 - 46,875 230,997

Others 34,294 + 20,617 + 28,401 50,856

Treasury cash holdings 78 - 10 - 229 68

Deposits with F.R. Banks, other than reserve balances 1,280,249 - 45,608 + 145,844 1,363,048

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 925,094 - 85,009 + 35,279 921,685

Foreign official 32,017 - 291 + 15,665 31,075

Other13 323,138 + 39,692 + 94,901 410,288

Treasury contributions to credit facilities14 51,136 - 642 + 51,136 50,278

Other liabilities and capital15 52,127 + 4,190 - 7,735 53,946

Total factors, other than reserve balances,

absorbing reserve funds 3,802,778 - 9,373 + 438,853 3,905,568

Reserve balances with Federal Reserve Banks 3,977,813 + 44,864 +1,058,772 3,936,454

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 $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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

Apr 14, 2021 Apr 7, 2021 Apr 15, 2020

Wednesday

Apr 14, 2021

Securities held in custody for foreign official and international

accounts 3,553,999 + 5,064 + 235,831 3,562,016

Marketable U.S. Treasury securities1 3,118,674 + 3,774 + 271,617 3,117,927

Federal agency debt and mortgage-backed securities2 347,857 + 1,443 - 40,353 356,764

Other securities3 87,467 - 154 + 4,567 87,325

Securities lent to dealers 42,850 + 2,402 + 8,254 48,392

Overnight facility4 42,850 + 2,402 + 8,254 48,392

U.S. Treasury securities 42,850 + 2,402 + 8,254 48,392

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, April 14, 2021

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 122 646 3,407 60,927 0 ... 65,102

U.S. Treasury securities2

Holdings 71,695 353,207 625,391 1,892,626 894,208 1,136,372 4,973,499

Weekly changes - 3,407 + 2,826 + 619 + 3,942 + 5,022 + 5,464 + 14,466

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 0 12 1,954 69,053 2,178,001 2,249,019

Weekly changes 0 0 0 0 0 + 64,336 + 64,335

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 16,436 ... ... 16,436

Municipal notes held by Municipal

Liquidity Facility LLC7 0 400 0 5,358 ... ... 5,758

Loans held by TALF II LLC8 0 0 0 1,872 ... ... 1,872

Repurchase agreements9 0 0 ... ... ... ... 0

Central bank liquidity swaps10 271 524 0 0 0 0 795

Reverse repurchase agreements9 281,853 0 ... ... ... ... 281,853

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, 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 Apr 14, 2021

Mortgage-backed securities held outright1 2,249,019

Residential mortgage-backed securities 2,239,076

Commercial mortgage-backed securities 9,943

Commitments to buy mortgage-backed securities2 161,970

Commitments to sell mortgage-backed securities2 0

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 Apr 14, 2021

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 8,556 8,556

Corporate Credit Facilities LLC 13,825 13,768 12,191 25,959

MS Facilities LLC (Main Street Lending Program) 16,488 14,023 16,948 30,970

Municipal Liquidity Facility LLC 6,058 5,758 5,658 11,416

TALF II LLC 2,256 1,872 3,411 5,283

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

 December 31, 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 approximately 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

Apr 14, 2021 Apr 7, 2021 Apr 15, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,428 - 30 - 228

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,631,285 + 80,857 +1,715,022

Securities held outright1 7,224,865 + 78,801 +1,865,489

U.S. Treasury securities 4,973,499 + 14,466 +1,184,641

Bills2 326,044 0 0

Notes and bonds, nominal2 4,262,999 + 11,337 +1,056,855

Notes and bonds, inflation-indexed2 337,158 + 2,401 + 114,466

Inflation compensation3 47,298 + 728 + 13,320

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,249,019 + 64,335 + 680,848

Unamortized premiums on securities held outright5 351,737 + 627 + 89,403

Unamortized discounts on securities held outright5 -10,419 - 859 - 3,523

Repurchase agreements6 0 0 - 181,100

Loans7 65,102 + 2,288 - 55,247

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,556 0 + 7,582

Net portfolio holdings of Corporate Credit Facilities LLC8 25,959 + 22 + 25,959

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,970 + 8 + 30,970

Net portfolio holdings of Municipal Liquidity Facility LLC8 11,416 + 3 + 11,416

Net portfolio holdings of TALF II LLC8 5,283 0 + 5,283

Items in process of collection (0) 55 + 11 + 20

Bank premises 1,916 + 3 - 287

Central bank liquidity swaps9 795 - 73 - 377,496

Foreign currency denominated assets10 21,515 + 148 + 990

Other assets11 37,688 + 3,271 + 5,985

Total assets (0) 7,793,104 + 84,222 +1,425,217

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

Apr 14, 2021 Apr 7, 2021 Apr 15, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,107,251 + 6,057 + 267,952

Reverse repurchase agreements12 281,853 + 9,780 + 2,269

Deposits (0) 5,299,502 + 65,487 +1,125,650

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,936,454 - 7,601 + 866,580

U.S. Treasury, General Account 921,685 - 33,283 + 65,530

Foreign official 31,075 - 1,174 + 14,728

Other13 (0) 410,288 + 107,544 + 178,813

Deferred availability cash items (0) 274 + 123 - 122

Treasury contributions to credit facilities14 50,278 - 1,500 + 50,278

Other liabilities and accrued dividends15 14,678 + 4,274 - 21,246

Total liabilities (0) 7,753,836 + 84,220 +1,424,781

Capital accounts

Capital paid in 32,482 0 + 475

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,267 0 + 435

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 $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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, April 14, 2021

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 1,428 29 37 116 69 198 127 247 23 44 100 159 281

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,631,285 170,201 3,928,456 176,745 240,745 477,342 559,476 423,698 120,901 84,930 124,735 366,151 957,906

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,556 0 8,556 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 25,959 0 25,959 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,970 30,970 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 11,416 0 11,416 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 5,283 0 5,283 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 795 36 267 29 69 165 36 31 15 7 9 14 117

Foreign currency denominated

assets4 21,515 977 7,232 773 1,860 4,477 973 843 409 183 233 388 3,168

Other assets5 39,660 955 19,205 993 1,309 2,834 2,982 2,238 755 553 943 2,067 4,826

Interdistrict settlement account 0 - 42,847 + 110,681 + 16,719 + 80,343 + 33,602 - 101,754 + 41,151 - 8,689 - 14,444 - 11,739 - 11,592 - 91,429

Total assets 7,793,104 160,853 4,122,574 195,903 325,156 519,783 464,022 469,345 113,893 71,542 114,729 358,390 876,914

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, April 14, 2021 (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 2,107,251 62,728 683,762 57,186 104,333 157,900 293,667 130,920 59,489 33,173 54,976 184,986 284,133

Reverse repurchase agreements6 281,853 6,329 145,931 6,430 8,818 17,665 20,772 15,743 4,453 2,664 4,482 13,584 34,981

Deposits 5,299,502 75,172 3,235,961 130,507 208,167 335,041 146,862 320,376 48,915 34,873 54,512 158,493 550,623

Depository institutions 3,936,454 75,159 2,035,893 130,505 208,127 334,362 146,819 161,425 48,899 34,639 53,709 156,321 550,596

U.S. Treasury, General Account 921,685 0 921,685 0 0 0 0 0 0 0 0 0 0

Foreign official 31,075 2 31,048 1 3 8 2 2 1 0 0 1 6

Other7 410,288 11 247,335 0 37 670 41 158,950 16 234 802 2,171 21

Earnings remittances due to the U.S.

Treasury8 2,821 62 1,468 64 93 192 207 149 32 24 42 132 355

Treasury contributions to credit facilities9 50,278 16,572 33,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 12,131 -1,788 8,573 309 356 838 731 620 258 459 285 476 1,014

Total liabilities 7,753,836 159,075 4,109,402 194,495 321,768 511,636 462,238 467,809 113,148 71,193 114,296 357,670 871,106

Capital

Capital paid in 32,482 1,470 10,892 1,164 2,801 6,735 1,477 1,270 616 291 360 597 4,809

Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999

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

Total liabilities and capital 7,793,104 160,853 4,122,574 195,903 325,156 519,783 464,022 469,345 113,893 71,542 114,729 358,390 876,914

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, April 14, 2021 (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, 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 each Federal Reserve Bank’s allotted surplus cap.

9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and

Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 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 Apr 14, 2021

Federal Reserve notes outstanding 2,263,062

Less: Notes held by F.R. Banks not subject to collateralization 155,811

Federal Reserve notes to be collateralized 2,107,251

Collateral held against Federal Reserve notes 2,107,251

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,091,014

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,224,865

Less: Face value of securities under reverse repurchase agreements 269,859

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,955,006

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.