FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 8, 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

Oct 7, 2020 Sep 30, 2020 Oct 9, 2019

Wednesday

Oct 7, 2020

Reserve Bank credit 7,019,728 + 3,323 +3,110,403 7,034,915

Securities held outright1 6,441,104 + 11,161 +2,851,604 6,454,984

U.S. Treasury securities 4,455,970 + 17,163 +2,336,081 4,469,848

Bills2 326,044 0 + 320,042 326,044

Notes and bonds, nominal2 3,800,798 + 15,450 +1,831,176 3,814,590

Notes and bonds, inflation-indexed2 288,760 + 1,408 + 168,910 288,760

Inflation compensation3 40,368 + 304 + 15,953 40,454

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

Mortgage-backed securities4 1,982,787 - 6,002 + 515,523 1,982,789

Unamortized premiums on securities held outright5 333,953 + 749 + 206,063 334,331

Unamortized discounts on securities held outright5 -4,713 + 23 + 7,874 -4,694

Repurchase agreements6 1,008 + 579 - 178,313 1,059

Foreign official 1,000 + 571 + 1,000 1,000

Others 8 + 8 - 179,313 59

Loans 76,238 - 1,261 + 76,161 75,924

Primary credit 2,889 - 225 + 2,887 2,939

Secondary credit 0 0 0 0

Seasonal credit 33 - 8 - 41 33

Primary Dealer Credit Facility 233 0 + 233 233

Money Market Mutual Fund Liquidity Facility 6,507 - 689 + 6,507 6,292

Paycheck Protection Program Liquidity Facility 66,576 - 338 + 66,576 66,426

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,589 + 1 + 8,589 8,590

Net portfolio holdings of Corporate Credit Facilities LLC7 45,103 + 77 + 45,103 45,164

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 39,941 + 422 + 39,941 40,076

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,547 + 1 + 16,547 16,548

Net portfolio holdings of TALF II LLC7 11,715 + 199 + 11,715 11,715

Float -219 + 283 - 107 -407

Central bank liquidity swaps8 15,838 - 9,561 + 15,799 15,838

Other Federal Reserve assets9 34,624 + 649 + 9,427 35,787

Foreign currency denominated assets10 21,579 + 104 + 928 21,551

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,425 + 14 + 424 50,425

Total factors supplying reserve funds 7,107,973 + 3,441 +3,111,756 7,123,133

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

Oct 7, 2020 Sep 30, 2020 Oct 9, 2019

Wednesday

Oct 7, 2020

Currency in circulation11 2,034,914 + 4,983 + 268,619 2,038,364

Reverse repurchase agreements12 199,220 - 3,302 - 91,116 188,543

Foreign official and international accounts 199,218 - 2,996 - 86,779 188,532

Others 2 - 306 - 4,336 11

Treasury cash holdings 25 - 13 - 165 25

Deposits with F.R. Banks, other than reserve balances 1,869,950 - 940 +1,482,482 1,869,371

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,697,074 + 17,922 +1,378,883 1,687,434

Foreign official 18,892 + 14 + 13,706 18,897

Other13 153,984 - 18,876 + 89,893 163,039

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

Other liabilities and capital15 49,003 + 1,169 + 3,530 49,473

Total factors, other than reserve balances,

absorbing reserve funds 4,267,113 + 1,897 +1,777,350 4,259,776

Reserve balances with Federal Reserve Banks 2,840,860 + 1,544 +1,334,405 2,863,357

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

Oct 7, 2020 Sep 30, 2020 Oct 9, 2019

Wednesday

Oct 7, 2020

Securities held in custody for foreign official and international

accounts 3,410,448 - 1,671 - 8,331 3,414,017

Marketable U.S. Treasury securities1 2,979,782 - 550 + 2,799 2,983,047

Federal agency debt and mortgage-backed securities2 345,393 - 969 - 14,192 345,354

Other securities3 85,274 - 151 + 3,063 85,617

Securities lent to dealers 23,988 - 1,364 - 3,739 28,283

Overnight facility4 23,988 - 1,364 - 3,739 28,283

U.S. Treasury securities 23,988 - 1,364 - 3,739 28,283

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, October 7, 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 1,465 5,153 2,879 66,426 0 ... 75,924

U.S. Treasury securities2

Holdings 60,673 281,358 648,353 1,686,755 797,112 995,597 4,469,848

Weekly changes + 4,567 + 42,964 - 46,446 + 13,219 + 8,244 + 1,824 + 24,371

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 2,140 78,238 1,902,405 1,982,789

Weekly changes 0 0 + 1 + 12 + 819 - 819 + 14

Commercial paper held by Commercial

Paper Funding Facility II LLC5 30 0 0 ... ... ... 30

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 2,553 ... ... 2,553

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 1,200 451 ... ... 1,651

Loans held by TALF II LLC8 0 0 0 3,127 ... ... 3,127

Repurchase agreements9 1,059 0 ... ... ... ... 1,059

Central bank liquidity swaps10 10,719 5,120 0 0 0 0 15,838

Reverse repurchase agreements9 188,543 0 ... ... ... ... 188,543

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 Oct 7, 2020

Mortgage-backed securities held outright1 1,982,789

Residential mortgage-backed securities 1,973,276

Commercial mortgage-backed securities 9,514

Commitments to buy mortgage-backed securities2 172,317

Commitments to sell mortgage-backed securities2 10,000

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 Oct 7, 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 30 30 8,560 8,590

Corporate Credit Facilities LLC 12,981 13,118 32,046 45,164

MS Facilities LLC (Main Street Lending Program) 2,552 2,553 37,523 40,076

Municipal Liquidity Facility LLC 1,651 1,651 14,897 16,548

TALF II LLC 3,207 3,127 8,588 11,715

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, 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

Oct 7, 2020 Sep 30, 2020 Oct 9, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,481 + 4 - 219

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,861,604 + 22,946 +2,976,317

Securities held outright1 6,454,984 + 24,385 +2,863,879

U.S. Treasury securities 4,469,848 + 24,371 +2,348,363

Bills2 326,044 0 + 320,042

Notes and bonds, nominal2 3,814,590 + 24,137 +1,844,624

Notes and bonds, inflation-indexed2 288,760 0 + 167,767

Inflation compensation3 40,454 + 234 + 15,930

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,982,789 + 14 + 515,516

Unamortized premiums on securities held outright5 334,331 + 909 + 206,318

Unamortized discounts on securities held outright5 -4,694 + 42 + 7,859

Repurchase agreements6 1,059 + 59 - 177,591

Loans7 75,924 - 2,449 + 75,852

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,590 + 1 + 8,590

Net portfolio holdings of Corporate Credit Facilities LLC8 45,164 + 122 + 45,164

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 40,076 + 358 + 40,076

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,548 + 1 + 16,548

Net portfolio holdings of TALF II LLC8 11,715 0 + 11,715

Items in process of collection (0) 57 - 15 + 5

Bank premises 2,189 - 12 + 3

Central bank liquidity swaps9 15,838 - 8,057 + 15,799

Foreign currency denominated assets10 21,551 - 2 + 932

Other assets11 33,599 + 3,174 + 9,763

Total assets (0) 7,074,649 + 18,520 +3,124,694

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

Oct 7, 2020 Sep 30, 2020 Oct 9, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,989,441 + 5,811 + 268,451

Reverse repurchase agreements12 188,543 - 16,690 - 102,566

Deposits (0) 4,732,727 + 28,408 +2,840,386

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,863,357 + 120,111 +1,334,963

U.S. Treasury, General Account 1,687,434 - 94,245 +1,390,045

Foreign official 18,897 - 19 + 13,712

Other13 (0) 163,039 + 2,562 + 101,666

Deferred availability cash items (0) 465 - 937 + 323

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

Other liabilities and accrued dividends15 10,254 + 1,926 + 4,204

Total liabilities (0) 7,035,431 + 18,519 +3,124,798

Capital accounts

Capital paid in 32,394 + 2 - 103

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,219 + 2 - 103

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, October 7, 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 1,481 27 28 121 84 205 148 247 28 42 101 168 282

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,861,604 160,686 3,525,664 161,376 214,521 429,563 504,166 382,988 109,102 71,220 113,901 330,005 858,412

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,590 0 8,590 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 45,164 0 45,164 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 40,076 40,076 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,548 0 16,548 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 11,715 0 11,715 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 15,838 752 5,323 570 1,353 3,343 786 615 260 124 167 188 2,358

Foreign currency denominated

assets4 21,551 1,023 7,244 775 1,841 4,548 1,069 837 353 169 227 256 3,208

Other assets5 35,845 2,408 15,852 879 1,182 2,512 2,710 2,033 715 483 862 1,859 4,350

Interdistrict settlement account 0 - 42,660 + 429,803 - 33,579 + 51,153 - 10,778 - 104,877 - 4,372 - 23,892 - 15,891 - 25,358 - 41,411 - 178,139

Total assets 7,074,649 162,844 4,071,415 130,672 270,896 430,558 406,184 383,485 87,046 56,416 90,350 292,266 692,517

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, October 7, 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 1,989,441 61,691 663,027 56,300 93,867 131,566 281,221 128,175 59,203 33,439 54,517 167,709 258,725

Reverse repurchase agreements6 188,543 4,234 97,620 4,302 5,899 11,817 13,895 10,531 2,979 1,782 2,998 9,087 23,401

Deposits 4,732,727 55,667 3,217,549 68,377 167,421 278,246 108,530 242,667 23,901 20,243 32,154 114,332 403,642

Depository institutions 2,863,357 55,656 1,458,095 68,376 167,349 277,037 108,430 135,377 23,894 20,189 32,126 113,233 403,595

U.S. Treasury, General Account 1,687,434 0 1,687,434 0 0 0 0 0 0 0 0 0 0

Foreign official 18,897 2 18,871 1 3 8 2 2 1 0 0 0 6

Other7 163,039 9 53,149 0 68 1,200 98 107,288 6 54 27 1,098 41

Earnings remittances due to the U.S.

Treasury8 2,129 31 1,220 45 41 60 165 122 31 17 33 113 251

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 8,590 389 3,828 240 288 691 577 460 204 605 226 363 718

Total liabilities 7,035,431 161,012 4,058,243 129,264 267,516 422,379 404,388 381,955 86,318 56,087 89,929 291,604 686,736

Capital

Capital paid in 32,394 1,508 10,878 1,162 2,797 6,738 1,458 1,266 616 275 349 581 4,765

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 7,074,649 162,844 4,071,415 130,672 270,896 430,558 406,184 383,485 87,046 56,416 90,350 292,266 692,517

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, October 7, 2020 (continued)

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

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

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

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

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

other credit extensions.

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

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

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

4. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

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

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

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

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

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

 

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal

Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the

FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans

or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate

Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began

extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount

provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose

vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are

used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help

ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are

used to secure the loan from the FRBB.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with

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

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

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

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

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

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 7, 2020

Federal Reserve notes outstanding 2,135,660

Less: Notes held by F.R. Banks not subject to collateralization 146,219

Federal Reserve notes to be collateralized 1,989,441

Collateral held against Federal Reserve notes 1,989,441

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,973,204

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,456,043

Less: Face value of securities under reverse repurchase agreements 179,619

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,276,425

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.