FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern time

February 3, 2022

In table 4, the outstanding amount of facility asset purchases for MS Facilities LLC (Main Street Lending 

Program) reflects the quarterly update to the allowance for loan losses. The allowance for loan losses was 

estimated based upon the Main Street Lending Program holdings as of December 31, 2021.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks February 3, 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 2, 2022 Jan 26, 2022 Feb 3, 2021

Wednesday

Feb 2, 2022

Reserve Bank credit 8,827,509 - 10,992 +1,460,675 8,835,075

Securities held outright1 8,383,836 - 9,033 +1,542,923 8,391,301

U.S. Treasury securities 5,720,646 + 13,962 + 951,862 5,728,109

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,938,131 + 10,232 + 854,581 4,943,022

Notes and bonds, inflation-indexed2 382,693 + 2,909 + 66,387 385,089

Inflation compensation3 73,778 + 820 + 30,894 73,954

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

Mortgage-backed securities4 2,660,843 - 22,994 + 591,060 2,660,845

Unamortized premiums on securities held outright5 351,481 - 861 + 6,300 351,482

Unamortized discounts on securities held outright5 -19,062 - 106 - 12,817 -19,168

Repurchase agreements6 0 0 - 1,000 0

Foreign official 0 0 - 1,000 0

Others 0 0 0 0

Loans 30,099 - 927 - 20,743 29,628

Primary credit 307 - 115 - 1,536 268

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Primary Dealer Credit Facility 0 0 - 531 0

Money Market Mutual Fund Liquidity Facility 0 0 - 1,861 0

Paycheck Protection Program Liquidity Facility 29,792 - 813 - 16,815 29,361

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,558 0

Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 26,289 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 29,243 + 305 - 4,061 29,249

Net portfolio holdings of Municipal Liquidity Facility LLC7 7,869 + 1 - 3,743 7,870

Net portfolio holdings of TALF II LLC7 2,576 - 25 - 3,867 2,542

Float -481 - 281 - 64 -150

Central bank liquidity swaps8 264 - 1 - 8,415 264

Other Federal Reserve assets9 41,683 - 65 + 1,007 42,057

Foreign currency denominated assets10 20,200 - 202 - 1,813 20,446

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,998 + 14 + 522 50,998

Total factors supplying reserve funds 8,914,948 - 11,180 +1,459,384 8,922,761

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 2, 2022 Jan 26, 2022 Feb 3, 2021

Wednesday

Feb 2, 2022

Currency in circulation11 2,228,891 - 1,974 + 131,500 2,230,088

Reverse repurchase agreements12 1,896,979 - 43,998 +1,673,390 1,906,571

Foreign official and international accounts 283,435 + 3,010 + 63,297 279,676

Others 1,613,545 - 47,007 +1,610,094 1,626,895

Treasury cash holdings 26 + 1 - 23 24

Deposits with F.R. Banks, other than reserve balances 930,164 + 41,548 - 909,998 959,976

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 675,773 + 60,896 - 949,552 710,267

Foreign official 6,649 - 1,274 - 15,200 5,621

Other13 247,742 - 18,074 + 54,754 244,088

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

Other liabilities and capital15 47,916 - 297 - 1,561 48,227

Total factors, other than reserve balances, 

absorbing reserve funds 5,125,234 - 4,720 + 862,788 5,166,144

Reserve balances with Federal Reserve Banks 3,789,714 - 6,460 + 596,596 3,756,617

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 2, 2022 Jan 26, 2022 Feb 3, 2021

Wednesday

Feb 2, 2022

Securities held in custody for foreign official and international 

accounts 3,457,868 - 324 - 73,425 3,466,187

Marketable U.S. Treasury securities1 3,052,999 + 500 - 30,741 3,061,188

Federal agency debt and mortgage-backed securities2 322,916 - 642 - 36,234 323,050

Other securities3 81,953 - 182 - 6,450 81,949

Securities lent to dealers 42,762 + 5,143 + 7,934 42,502

Overnight facility4 42,762 + 5,143 + 7,934 42,502

U.S. Treasury securities 42,762 + 5,143 + 7,934 42,502

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 2, 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 37 700 618 28,274 0 ... 29,628

U.S. Treasury securities2

Holdings 120,740 284,249 738,168 2,203,397 1,011,998 1,369,557 5,728,109

Weekly changes + 29,508 - 42,315 + 16,224 + 5,750 - 2,479 + 5,205 + 11,892

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 2,106 59,442 2,599,259 2,660,845

Weekly changes 0 0 + 8 + 206 - 214 + 24 + 25

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 15,256 ... ... 15,256

Municipal notes held by Municipal 

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

Loans held by TALF II LLC7 0 0 0 1,291 ... ... 1,291

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

Central bank liquidity swaps9 264 0 0 0 0 0 264

Reverse repurchase agreements8 1,906,571 0 ... ... ... ... 1,906,571

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 2, 2022

Mortgage-backed securities held outright1 2,660,845

Residential mortgage-backed securities 2,651,747

Commercial mortgage-backed securities 9,098

Commitments to buy mortgage-backed securities2 84,098

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 2

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 2, 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) 15,011 13,227 16,023 29,249

Municipal Liquidity Facility LLC 4,131 3,358 4,512 7,870

TALF II LLC 1,345 1,291 1,251 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 2, 2022 Jan 26, 2022 Feb 3, 2021

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,253 + 9 - 316

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,753,244 + 10,651 +1,517,864

Securities held outright1 8,391,301 + 11,917 +1,547,091

U.S. Treasury securities 5,728,109 + 11,892 + 956,035

Bills2 326,044 0 0

Notes and bonds, nominal2 4,943,022 + 7,808 + 857,985

Notes and bonds, inflation-indexed2 385,089 + 3,592 + 67,068

Inflation compensation3 73,954 + 491 + 30,982

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,660,845 + 25 + 591,056

Unamortized premiums on securities held outright5 351,482 - 128 + 5,841

Unamortized discounts on securities held outright5 -19,168 - 197 - 12,833

Repurchase agreements6 0 0 - 1,000

Loans7 29,628 - 943 - 21,237

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,558

Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 26,290

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 29,249 + 304 - 4,062

Net portfolio holdings of Municipal Liquidity Facility LLC8 7,870 + 1 - 3,743

Net portfolio holdings of TALF II LLC8 2,542 - 60 - 3,862

Items in process of collection (0) 50 + 1 - 23

Bank premises 1,372 - 11 - 833

Central bank liquidity swaps9 264 - 1 - 8,415

Foreign currency denominated assets10 20,446 + 121 - 1,450

Other assets11 40,686 + 1,712 + 2,303

Total assets (0) 8,873,211 + 12,726 +1,462,613

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 2, 2022 Jan 26, 2022 Feb 3, 2021

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,180,362 + 91 + 130,056

Reverse repurchase agreements12 1,906,571 + 15,381 +1,697,638

Deposits (0) 4,716,593 - 4,301 - 332,601

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,756,617 - 68,459 + 553,895

U.S. Treasury, General Account 710,267 + 70,647 - 919,462

Foreign official 5,621 - 1,049 - 16,233

Other13 (0) 244,088 - 5,440 + 49,199

Deferred availability cash items (0) 200 - 371 + 62

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

Other liabilities and accrued dividends15 7,671 + 1,877 - 3,374

Total liabilities (0) 8,832,656 + 12,678 +1,461,261

Capital accounts

Capital paid in 33,770 + 48 + 1,392

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 40,555 + 48 + 1,352

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 2, 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 1,253 16 23 112 48 180 113 230 21 36 90 157 226

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,753,244 145,826 4,935,244 184,284 322,791 584,994 511,147 476,099 114,028 78,489 116,252 385,942 898,149

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 29,249 29,249 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 7,870 0 7,870 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 264 12 89 9 23 55 12 10 5 2 3 5 39

Foreign currency denominated 

assets4 20,446 923 6,941 730 1,759 4,233 920 797 387 173 220 367 2,996

Other assets5 42,107 796 22,489 980 1,592 3,106 2,537 2,301 718 525 877 1,949 4,238

Interdistrict settlement account 0 + 9,299 - 250,304 - 2,172 - 852 - 16,166 + 58,303 + 87,326 + 22,047 - 18 + 19,868 + 69,341 + 3,329

Total assets 8,873,211 186,652 4,730,315 184,467 326,113 577,588 575,220 567,899 137,680 79,481 137,765 458,980 911,052

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 2, 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 2,180,362 72,105 701,077 60,658 102,475 152,852 325,817 124,568 64,014 32,704 56,607 190,275 297,211

Reverse repurchase agreements6 1,906,571 31,860 1,077,700 40,268 69,373 127,756 111,710 104,042 24,857 14,752 25,318 84,312 194,623

Deposits 4,716,593 66,351 2,927,023 81,804 149,989 288,107 135,684 337,234 47,769 31,596 55,189 183,041 412,806

Depository institutions 3,756,617 66,324 2,159,780 81,803 149,916 286,981 135,552 147,269 47,761 31,004 54,618 182,868 412,742

U.S. Treasury, General Account 710,267 0 710,267 0 0 0 0 0 0 0 0 0 0

Foreign official 5,621 2 5,595 1 3 8 2 2 1 0 0 1 6

Other7 244,088 25 51,381 0 69 1,118 131 189,964 8 592 571 172 57

Earnings remittances due to the U.S. 

Treasury8 3,897 45 2,715 51 83 169 164 141 49 30 48 121 281

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 3,974 -1,270 2,183 190 212 551 530 372 170 149 185 253 450

Total liabilities 8,832,656 184,765 4,716,283 182,971 322,131 569,434 573,905 566,357 136,859 79,232 137,346 458,001 905,371

Capital

Capital paid in 33,770 1,594 11,669 1,244 3,319 6,793 1,094 1,285 685 215 348 816 4,708

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 8,873,211 186,652 4,730,315 184,467 326,113 577,588 575,220 567,899 137,680 79,481 137,765 458,980 911,052

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 2, 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 2, 2022

Federal Reserve notes outstanding 2,457,608

Less: Notes held by F.R. Banks not subject to collateralization 277,245

Federal Reserve notes to be collateralized 2,180,362

Collateral held against Federal Reserve notes 2,180,362

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,164,126

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,391,301

Less: Face value of securities under reverse repurchase agreements 1,883,808

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,507,492

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.