FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks August 26, 2021

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at 

Federal Reserve Banks

Week ended

Aug 25, 2021 Aug 18, 2021 Aug 26, 2020

Wednesday

Aug 25, 2021

Reserve Bank credit 8,323,904 + 25,782 +1,348,589 8,293,870

Securities held outright1 7,812,573 + 37,063 +1,479,245 7,786,785

U.S. Treasury securities 5,339,834 + 25,984 + 986,598 5,346,372

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,599,758 + 23,403 + 886,770 4,604,044

Notes and bonds, inflation-indexed2 353,630 + 1,602 + 76,724 355,345

Inflation compensation3 60,403 + 980 + 23,105 60,939

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

Mortgage-backed securities4 2,470,391 + 11,078 + 492,646 2,438,067

Unamortized premiums on securities held outright5 354,872 + 40 + 28,266 354,033

Unamortized discounts on securities held outright5 -15,220 - 265 - 10,213 -15,213

Repurchase agreements6 0 0 0 0

Foreign official 0 0 0 0

Others 0 0 0 0

Loans 79,568 - 2,071 - 1,995 78,094

Primary credit 360 + 67 - 2,282 278

Secondary credit 0 0 0 0

Seasonal credit 28 + 5 - 12 28

Primary Dealer Credit Facility 0 0 - 532 0

Money Market Mutual Fund Liquidity Facility 0 0 - 10,427 0

Paycheck Protection Program Liquidity Facility 79,180 - 2,143 + 11,259 77,788

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,588 0

Net portfolio holdings of Corporate Credit Facilities LLC7 17,116 + 2 - 27,426 17,116

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 30,535 - 21 - 7,663 30,543

Net portfolio holdings of Municipal Liquidity Facility LLC7 9,766 + 1 - 6,387 9,768

Net portfolio holdings of TALF II LLC7 4,513 0 - 6,258 4,514

Float -128 - 8 + 77 -133

Central bank liquidity swaps8 347 - 150 - 91,793 326

Other Federal Reserve assets9 29,960 - 8,812 + 1,321 28,038

Foreign currency denominated assets10 21,150 - 52 - 445 21,179

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,824 + 14 + 525 50,824

Total factors supplying reserve funds 8,412,119 + 25,744 +1,348,669 8,382,114

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

Aug 25, 2021 Aug 18, 2021 Aug 26, 2020

Wednesday

Aug 25, 2021

Currency in circulation11 2,187,318 - 646 + 176,327 2,188,700

Reverse repurchase agreements12 1,386,246 + 56,586 +1,172,990 1,405,110

Foreign official and international accounts 263,649 - 2,340 + 50,417 258,021

Others 1,122,597 + 58,927 +1,122,573 1,147,089

Treasury cash holdings 52 + 4 - 8 43

Deposits with F.R. Banks, other than reserve balances 581,178 - 9,665 -1,280,021 497,782

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 301,430 - 37,378 -1,321,260 258,200

Foreign official 7,387 - 366 - 9,225 8,324

Other13 272,361 + 28,079 + 50,463 231,258

Treasury contributions to credit facilities14 40,278 0 - 73,722 40,278

Other liabilities and capital15 49,299 - 1,571 + 1,150 46,725

Total factors, other than reserve balances, 

absorbing reserve funds 4,244,371 + 44,707 - 3,285 4,178,639

Reserve balances with Federal Reserve Banks 4,167,748 - 18,963 +1,351,954 4,203,475

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 Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity 

Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Aug 25, 2021 Aug 18, 2021 Aug 26, 2020

Wednesday

Aug 25, 2021

Securities held in custody for foreign official and international 

accounts 3,501,608 - 585 + 88,280 3,487,788

Marketable U.S. Treasury securities1 3,067,747 - 287 + 95,579 3,063,316

Federal agency debt and mortgage-backed securities2 341,628 - 166 - 13,537 332,338

Other securities3 92,233 - 132 + 6,238 92,134

Securities lent to dealers 30,649 + 136 + 4,239 28,838

Overnight facility4 30,649 + 136 + 4,239 28,838

U.S. Treasury securities 30,649 + 136 + 4,239 28,838

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, August 25, 2021

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 103 203 8,613 69,174 0 ... 78,094

U.S. Treasury securities2

Holdings 79,378 297,972 696,821 2,033,296 981,487 1,257,417 5,346,372

Weekly changes - 413 + 457 + 24 + 12,051 + 8,379 + 2,223 + 22,721

Federal agency debt securities3

Holdings 0 0 0 0 2,134 213 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 16 1,723 62,739 2,373,589 2,438,067

Weekly changes 0 0 - 2 - 89 - 991 - 26,489 - 27,571

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 16,064 ... ... 16,064

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 4,373 ... ... 4,373

Loans held by TALF II LLC7 0 0 0 1,461 ... ... 1,461

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

Central bank liquidity swaps9 221 105 0 0 0 0 326

Reverse repurchase agreements8 1,405,110 0 ... ... ... ... 1,405,110

Term deposits 0 0 0 ... ... ... 0

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

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection 

Program Liquidity Facility, and other credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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 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 Aug 25, 2021

Mortgage-backed securities held outright1 2,438,067

Residential mortgage-backed securities 2,428,442

Commercial mortgage-backed securities 9,625

Commitments to buy mortgage-backed securities2 108,398

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 16

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 Aug 25, 2021

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

Corporate Credit Facilities LLC 4,803 781 16,335 17,116

MS Facilities LLC (Main Street Lending Program) 16,050 13,519 17,024 30,543

Municipal Liquidity Facility LLC 4,373 4,373 5,394 9,768

TALF II LLC 1,482 1,461 3,053 4,514

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 Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. Asset balances from trading activity are

 reported on a one-day lag after the transaction date.

b. 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 June 30, 2021.

c. 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.

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

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

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

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

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

from the following consolidated LLCs: 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

Aug 25, 2021 Aug 18, 2021 Aug 26, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,239 0 - 251

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,203,699 - 8,493 +1,491,379

Securities held outright1 7,786,785 - 4,851 +1,476,651

U.S. Treasury securities 5,346,372 + 22,721 + 987,813

Bills2 326,044 0 0

Notes and bonds, nominal2 4,604,044 + 19,602 + 885,875

Notes and bonds, inflation-indexed2 355,345 + 2,001 + 78,439

Inflation compensation3 60,939 + 1,118 + 23,499

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,438,067 - 27,571 + 488,839

Unamortized premiums on securities held outright5 354,033 - 907 + 27,963

Unamortized discounts on securities held outright5 -15,213 - 22 - 10,224

Repurchase agreements6 0 0 0

Loans7 78,094 - 2,714 - 3,011

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,588

Net portfolio holdings of Corporate Credit Facilities LLC8 17,116 0 - 27,488

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 30,543 + 9 - 7,828

Net portfolio holdings of Municipal Liquidity Facility LLC8 9,768 + 2 - 6,773

Net portfolio holdings of TALF II LLC8 4,514 + 1 - 6,257

Items in process of collection (0) 82 + 12 + 37

Bank premises 1,592 - 71 - 605

Central bank liquidity swaps9 326 - 162 - 91,814

Foreign currency denominated assets10 21,179 + 51 - 415

Other assets11 26,449 - 1,203 + 928

Total assets (0) 8,332,743 - 9,855 +1,342,325

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

Aug 25, 2021 Aug 18, 2021 Aug 26, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,139,155 + 587 + 174,042

Reverse repurchase agreements12 1,405,110 + 19,709 +1,192,035

Deposits (0) 4,701,260 - 28,525 + 49,053

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 4,203,478 + 41,313 +1,328,078

U.S. Treasury, General Account 258,200 - 55,451 -1,349,249

Foreign official 8,324 + 1,092 - 8,290

Other13 (0) 231,258 - 15,479 + 78,515

Deferred availability cash items (0) 215 + 16 - 156

Treasury contributions to credit facilities14 40,278 0 - 73,722

Other liabilities and accrued dividends15 6,960 - 1,666 + 238

Total liabilities (0) 8,292,978 - 9,878 +1,341,491

Capital accounts

Capital paid in 32,980 + 23 + 874

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,765 + 23 + 834

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 Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity 

Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

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

6. Statement of Condition of Each Federal Reserve Bank, August 25, 2021

Millions of dollars

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

Assets

Gold certificates and special drawing 

rights certificates 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075

Coin 1,239 16 22 115 56 180 114 234 15 30 87 145 225

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,203,699 135,858 4,602,615 174,725 311,212 545,735 476,704 444,069 106,696 87,640 109,440 360,228 848,775

Net portfolio holdings of Corporate 

Credit Facilities LLC2 17,116 0 17,116 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,543 30,543 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 9,768 0 9,768 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,514 0 4,514 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 326 15 110 12 28 68 15 13 6 3 4 6 48

Foreign currency denominated 

assets4 21,179 961 7,119 760 1,831 4,407 958 830 403 180 229 382 3,119

Other assets5 28,123 556 14,389 693 1,080 2,141 1,779 1,564 676 384 661 1,339 2,862

Interdistrict settlement account 0 + 29,074 - 505,434 + 14,723 + 30,258 + 50,575 + 65,107 + 113,190 + 17,876 - 5,773 + 21,375 + 55,094 + 113,935

Total assets 8,332,743 197,555 4,155,640 191,550 345,217 604,293 546,865 561,036 126,147 82,735 132,251 418,415 971,039

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, August 25, 2021 (continued)

Millions of dollars

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

Liabilities

Federal Reserve notes, net 2,139,155 69,603 690,065 63,362 102,628 154,887 308,386 125,080 58,241 32,995 55,419 195,844 282,643

Reverse repurchase agreements6 1,405,110 23,481 794,247 29,677 51,126 94,154 82,328 76,677 18,319 10,872 18,659 62,136 143,434

Deposits 4,701,260 87,971 2,630,221 96,721 187,576 346,237 153,704 357,125 48,616 38,297 57,486 159,053 538,255

Depository institutions 4,203,478 87,959 2,317,509 96,720 187,498 345,544 152,215 175,444 48,595 38,014 57,056 158,838 538,086

U.S. Treasury, General Account 258,200 0 258,200 0 0 0 0 0 0 0 0 0 0

Foreign official 8,324 2 8,298 1 3 8 2 2 1 0 0 1 6

Other7 231,258 10 46,214 0 74 684 1,487 181,679 20 283 429 214 163

Earnings remittances due to the U.S. 

Treasury8 1,237 15 728 24 45 81 74 54 14 8 14 55 126

Treasury contributions to credit facilities9 40,278 16,572 23,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 5,937 -1,853 3,337 267 333 767 603 559 213 339 238 388 747

Total liabilities 8,292,978 195,790 4,142,303 190,051 341,708 596,125 545,096 559,495 125,404 82,510 131,816 417,476 965,205

Capital

Capital paid in 32,980 1,457 11,056 1,256 2,922 6,756 1,462 1,275 614 167 362 817 4,835

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

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

Total liabilities and capital 8,332,743 197,555 4,155,640 191,550 345,217 604,293 546,865 561,036 126,147 82,735 132,251 418,415 971,039

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, August 25, 2021 (continued)

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

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

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

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

Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility, 

and other credit extensions.

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

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

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

4. Revalued daily at current foreign currency exchange rates.

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

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 Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC 

of $3.5 billion.

 

Note on consolidation:

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

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

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

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

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

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

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

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

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

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

used to secure the loan from the FRBB.

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

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

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

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

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

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

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Aug 25, 2021

Federal Reserve notes outstanding 2,371,065

Less: Notes held by F.R. Banks not subject to collateralization 231,910

Federal Reserve notes to be collateralized 2,139,155

Collateral held against Federal Reserve notes 2,139,155

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,122,918

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,786,785

Less: Face value of securities under reverse repurchase agreements 1,329,728

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,457,058

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.