FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern time

June 18, 2020

The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks,” has been modified to include

information on the Term Asset-Backed Securities Loan Facility (TALF) and a new table 4 that

provides supplemental information on all credit facilities.

Table 4, “Information on Principal Accounts of Credit Facilities LLCs,” was added to provide

information about outstanding principal amount of loans extended to LLCs by Reserve Banks.

The table also provides information on the net portfolio holdings of credit facilities LLCs

including outstanding amounts of facility asset purchases, Treasury contributions, and other

assets.

The TALF operates through the Term Asset-Backed Securities Loan Facility II LLC (TALF II

LLC), a special purpose vehicle that was formed to help support the flow of credit to consumers

and businesses. On March 23, 2020, the Federal Reserve announced the TALF. On June 16,

2020, the Federal Reserve Bank of New York (FRBNY) received Treasury’s equity contribution

for the TALF program.

Consistent with generally accepted accounting principles, the assets and liabilities of TALF II

LLC have been consolidated with the assets and liabilities of the FRBNY in the preparation of

the statements of condition shown on the release because the FRBNY is the managing member

of TALF II LLC. The net portfolio holdings of TALF II LLC appear as an asset on the statement

of condition of the FRBNY (now table 6), the consolidated statement of condition of all Federal

Reserve Banks (now table 5), factors affecting reserve balances of depository institutions (table

1), and information on principal accounts of credit facilities LLC (table 4). The amount provided

by the U.S. Treasury as credit protection for the TALF II LLC is included in “Treasury

contributions to credit facilities” in tables 1, 4, 5, and 6.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 18, 2020

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Wednesday

Jun 17, 2020

Reserve Bank credit 7,085,167 - 28,041 +3,276,184 7,055,889

Securities held outright1 6,078,625 + 97,492 +2,413,566 6,090,428

U.S. Treasury securities 4,163,270 + 20,079 +2,053,217 4,169,340

Bills2 326,044 0 + 326,007 326,044

Notes and bonds, nominal2 3,538,225 + 17,737 +1,567,955 3,542,389

Notes and bonds, inflation-indexed2 262,694 + 2,543 + 146,178 264,552

Inflation compensation3 36,307 - 201 + 13,078 36,356

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

Mortgage-backed securities4 1,913,008 + 77,413 + 360,349 1,918,741

Unamortized premiums on securities held outright5 310,353 + 4,243 + 178,384 311,026

Unamortized discounts on securities held outright5 -5,408 + 67 + 7,539 -5,366

Repurchase agreements6 120,429 - 63,886 + 120,429 79,053

Foreign official 0 0 0 0

Others 120,429 - 63,885 + 120,429 79,053

Loans 96,402 - 3,201 + 96,330 95,031

Primary credit 7,939 - 1,313 + 7,920 7,479

Secondary credit 0 0 0 0

Seasonal credit 12 + 2 - 41 13

Primary Dealer Credit Facility 5,621 - 225 + 5,621 5,306

Money Market Mutual Fund Liquidity Facility 25,604 - 2,564 + 25,604 24,680

Paycheck Protection Program Liquidity Facility 57,226 + 901 + 57,226 57,552

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 12,796 + 1 + 12,796 12,797

Net portfolio holdings of Corporate Credit Facilities LLC7 38,110 + 1,290 + 38,110 38,916

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 31,875 + 27,321 + 31,875 31,876

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,078 + 2 + 16,078 16,079

Net portfolio holdings of TALF II LLC7 0 0 0 0

Float -229 - 44 - 91 -216

Central bank liquidity swaps8 352,584 - 93,675 + 352,567 352,470

Other Federal Reserve assets9 33,553 + 2,349 + 8,601 33,795

Foreign currency denominated assets10 20,923 + 71 + 107 20,866

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,373 + 14 + 454 50,373

Total factors supplying reserve funds 7,172,705 - 27,955 +3,276,745 7,143,369

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

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

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Wednesday

Jun 17, 2020

Currency in circulation11 1,956,927 + 2,960 + 219,969 1,959,750

Reverse repurchase agreements12 232,965 - 8,657 - 35,616 225,462

Foreign official and international accounts 232,340 - 9,101 - 29,204 225,461

Others 626 + 445 - 6,411 1

Treasury cash holdings 113 - 38 - 98 83

Deposits with F.R. Banks, other than reserve balances 1,746,476 + 77,794 +1,470,015 1,726,191

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,560,850 + 54,292 +1,362,452 1,565,306

Foreign official 16,250 - 120 + 11,006 16,247

Other13 169,376 + 23,621 + 96,558 144,637

Treasury contributions to credit facilities14 106,857 + 2,857 + 106,857 114,000

Other liabilities and capital15 50,875 + 863 + 5,081 48,445

Total factors, other than reserve balances,

absorbing reserve funds 4,094,214 + 75,781 +1,766,210 4,073,930

Reserve balances with Federal Reserve Banks 3,078,491 - 103,737 +1,510,536 3,069,439

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

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

2. Face value of the securities.

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

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

the securities.

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

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

basis.

6. Cash value of agreements.

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

consolidation below.

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

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

foreign central bank.

9. Includes bank premises, accrued interest, and other accounts receivable. Also includes net portfolio holdings of Maiden Lane LLC. 

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

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

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

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

as fiscal agents of the United States.

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

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

Market Mutual Fund Liquidity Facility of $1.5 billion.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Wednesday

Jun 17, 2020

Securities held in custody for foreign official and international

accounts 3,419,320 + 12,264 - 58,114 3,423,057

Marketable U.S. Treasury securities1 2,956,733 + 11,938 - 99,648 2,960,181

Federal agency debt and mortgage-backed securities2 377,573 + 226 + 33,440 377,751

Other securities3 85,014 + 100 + 8,094 85,125

Securities lent to dealers 33,661 - 66 + 6,599 30,094

Overnight facility4 33,661 - 66 + 6,599 30,094

U.S. Treasury securities 33,661 - 66 + 6,599 30,094

Federal agency debt securities 0 0 0 0

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

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

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

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

securities.

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

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

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 17, 2020

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 10,098 19,628 8,953 56,352 0 ... 95,031

U.S. Treasury securities2

Holdings 70,365 276,151 587,886 1,581,775 729,159 924,006 4,169,340

Weekly changes + 27,492 - 16,676 + 1,168 + 740 + 3,843 + 2,366 + 18,931

Federal agency debt securities3

Holdings 0 0 0 0 1,436 911 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 5 2,267 80,708 1,835,761 1,918,741

Weekly changes 0 0 0 + 37 - 176 + 83,284 + 83,146

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 4,251 0 ... ... ... 4,251

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 0 ... ... 0

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 1,200 0 ... ... 1,200

Loans held by TALF II LLC8 0 0 0 0 ... ... 0

Repurchase agreements8 25,853 53,200 ... ... ... ... 79,053

Central bank liquidity swaps9 242,962 109,508 0 0 0 0 352,470

Reverse repurchase agreements8 225,462 0 ... ... ... ... 225,462

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 Primary Dealer Credit Facility, Money Market Mutual Fund

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

Bank of New York (FRBNY) to Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, Municipal Liquidity Facility LLC, and TALF

II LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB’s

statement of condition, respectively, consistent with consolidation under generally accepted accounting principles.

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

face value of such securities.

3. Face value.

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

5. Book value of commercial paper held by Commercial Paper Funding Facility II LLC.

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

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

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

9. Cash value of agreements.

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

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

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Jun 17, 2020

Mortgage-backed securities held outright1 1,918,741

Residential mortgage-backed securities 1,909,628

Commercial mortgage-backed securities 9,113

Commitments to buy mortgage-backed securities2 96,199

Commitments to sell mortgage-backed securities2 3,815

Cash and cash equivalents3 0

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

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

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

securities generally settle within three business days.

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

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Jun 17, 2020

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

Commercial Paper Funding Facility II LLC 4,243 4,251 8,547 12,797

Corporate Credit Facilities LLC 6,567 7,027 31,889 38,916

MS Facilities LLC (Main Street Lending Program) 0 0 31,876 31,876

Municipal Liquidity Facility LLC 1,200 1,200 14,879 16,079

TALF II LLC 0 0 0 0

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 at face value.

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

 a one-day lag after the transaction date.

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

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

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

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

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

following consolidated LLCs: Commercial Paper Funding Facility II LLC, Corporate Credit Facilities LLC, and Municipal Liquidity Facility LLC. Refer to

the note on consolidation accompanying table 6.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,431 + 19 - 239

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,570,172 + 14,930 +2,789,947

Securities held outright1 6,090,428 + 102,077 +2,429,201

U.S. Treasury securities 4,169,340 + 18,931 +2,059,256

Bills2 326,044 0 + 326,039

Notes and bonds, nominal2 3,542,389 + 15,615 +1,572,119

Notes and bonds, inflation-indexed2 264,552 + 3,401 + 148,036

Inflation compensation3 36,356 - 84 + 13,063

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,918,741 + 83,146 + 369,945

Unamortized premiums on securities held outright5 311,026 + 4,210 + 179,246

Unamortized discounts on securities held outright5 -5,366 + 86 + 7,570

Repurchase agreements6 79,053 - 88,247 + 79,053

Loans7 95,031 - 3,196 + 94,877

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 12,797 + 1 + 12,797

Net portfolio holdings of Corporate Credit Facilities LLC8 38,916 + 1,542 + 38,916

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 31,876 + 1 + 31,876

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,079 + 2 + 16,079

Net portfolio holdings of TALF II LLC8 0 0 0

Items in process of collection (0) 51 + 11 - 2

Bank premises 2,202 + 1 + 10

Central bank liquidity swaps9 352,470 - 92,050 + 352,453

Foreign currency denominated assets10 20,866 - 149 + 55

Other assets11 31,594 + 1,447 + 8,784

Total assets (0) 7,094,690 - 74,246 +3,250,674

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

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

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jun 17, 2020 Jun 10, 2020 Jun 19, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,910,886 + 3,859 + 221,230

Reverse repurchase agreements12 225,462 - 15,352 - 59,233

Deposits (0) 4,795,630 - 71,652 +2,971,426

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,069,439 - 121,215 +1,567,915

U.S. Treasury, General Account 1,565,306 + 60,737 +1,306,665

Foreign official 16,247 - 9 + 11,003

Other13 (0) 144,637 - 11,165 + 85,842

Deferred availability cash items (0) 268 - 9 + 103

Treasury contributions to credit facilities14 114,000 + 10,000 + 114,000

Other liabilities and accrued dividends15 9,531 - 1,090 + 3,453

Total liabilities (0) 7,055,776 - 74,245 +3,250,978

Capital accounts

Capital paid in 32,090 - 1 - 302

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,915 - 1 - 302

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

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

2. Face value of the securities.

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

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

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

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

basis.

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

7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.

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

consolidation below.

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

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

central bank.

10. Revalued daily at current foreign currency exchange rates.

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

holdings of Maiden Lane LLC.

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

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

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

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

as fiscal agents of the United States.

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

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

Market Mutual Fund Liquidity Facility of $1.5 billion.

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

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2020

Millions of dollars

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

Assets

Gold certificates and special drawing

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

Coin 1,431 24 38 127 81 196 142 242 23 38 91 164 267

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,570,172 173,086 3,373,822 151,540 203,703 410,728 481,418 365,354 104,210 64,483 109,262 314,853 817,715

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 12,797 0 12,797 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 38,916 0 38,916 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 31,876 31,876 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,079 0 16,079 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 0 0 0 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 352,470 16,730 118,452 12,684 30,120 74,395 17,481 13,688 5,778 2,760 3,717 4,185 52,479

Foreign currency denominated

assets4 20,866 990 7,014 751 1,783 4,404 1,035 810 342 163 220 248 3,106

Other assets5 33,847 8,014 9,104 821 1,120 2,412 2,539 1,907 816 430 812 1,799 4,074

Interdistrict settlement account 0 - 67,296 + 472,892 - 14,968 + 1,877 - 23,540 - 111,944 - 32,494 - 24,237 - 13,455 - 22,437 - 19,151 - 145,245

Total assets 7,094,690 163,958 4,054,597 151,483 239,444 469,759 392,854 350,643 87,409 54,689 92,115 303,299 734,442

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

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2020 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes, net 1,910,886 58,128 640,562 52,952 85,644 125,029 263,286 126,109 58,375 30,819 52,781 161,799 255,402

Reverse repurchase agreements6 225,462 5,063 116,735 5,144 7,054 14,131 16,616 12,593 3,562 2,131 3,585 10,866 27,983

Deposits 4,795,630 59,566 3,205,011 91,690 143,091 321,595 110,310 209,846 24,611 20,991 35,083 129,514 444,321

Depository institutions 3,069,439 59,544 1,568,615 91,689 143,020 321,105 110,208 124,301 24,608 20,934 33,592 127,508 444,315

U.S. Treasury, General Account 1,565,306 0 1,565,306 0 0 0 0 0 0 0 0 0 0

Foreign official 16,247 2 16,221 1 3 8 2 2 1 0 0 0 6

Other7 144,637 21 54,869 0 68 482 99 85,543 3 57 1,490 2,005 0

Earnings remittances due to the U.S.

Treasury8 1,331 27 738 26 33 58 101 74 20 10 12 69 163

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

Other liabilities and accrued

dividends 8,468 343 3,540 263 323 761 638 506 206 414 237 400 838

Total liabilities 7,055,776 162,128 4,041,585 150,076 236,146 461,573 390,950 349,128 86,774 54,364 91,699 302,647 728,707

Capital

Capital paid in 32,090 1,505 10,718 1,161 2,715 6,745 1,565 1,250 523 272 344 571 4,719

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

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

Total liabilities and capital 7,094,690 163,958 4,054,597 151,483 239,444 469,759 392,854 350,643 87,409 54,689 92,115 303,299 734,442

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

6. Statement of Condition of Each Federal Reserve Bank, June 17, 2020 (continued)

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

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

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

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

secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and

other credit extensions.

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

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

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

4. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

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

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

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

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

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) has extended loans to several 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 dollar-denominated 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.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The Federal Reserve Bank of Boston (FRBB) is the managing member of MS Facilities LLC (Main Street Lending

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

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

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

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

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

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 17, 2020

Federal Reserve notes outstanding 2,067,014

Less: Notes held by F.R. Banks not subject to collateralization 156,128

Federal Reserve notes to be collateralized 1,910,886

Collateral held against Federal Reserve notes 1,910,886

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,894,649

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,169,481

Less: Face value of securities under reverse repurchase agreements 216,811

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,952,670

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.