FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 22, 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 21, 2020 Oct 14, 2020 Oct 23, 2019

Wednesday

Oct 21, 2020

Reserve Bank credit 7,110,865 + 65,494 +3,177,663 7,137,392

Securities held outright1 6,533,450 + 62,376 +2,933,060 6,559,360

U.S. Treasury securities 4,495,604 + 18,846 +2,358,675 4,509,778

Bills2 326,044 0 + 308,255 326,044

Notes and bonds, nominal2 3,833,695 + 14,611 +1,860,070 3,847,392

Notes and bonds, inflation-indexed2 294,418 + 3,602 + 173,425 294,761

Inflation compensation3 41,447 + 633 + 16,925 41,581

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

Mortgage-backed securities4 2,035,499 + 43,530 + 574,385 2,047,235

Unamortized premiums on securities held outright5 337,728 + 2,751 + 210,334 338,824

Unamortized discounts on securities held outright5 -4,623 + 12 + 7,963 -4,608

Repurchase agreements6 1,000 0 - 189,580 1,000

Foreign official 1,000 0 + 1,000 1,000

Others 0 0 - 190,580 0

Loans 74,150 - 608 + 74,095 73,212

Primary credit 2,804 + 185 + 2,803 3,146

Secondary credit 0 0 0 0

Seasonal credit 9 - 17 - 44 7

Primary Dealer Credit Facility 193 0 + 193 193

Money Market Mutual Fund Liquidity Facility 6,019 - 118 + 6,019 5,740

Paycheck Protection Program Liquidity Facility 65,125 - 658 + 65,125 64,126

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,559 - 22 + 8,559 8,559

Net portfolio holdings of Corporate Credit Facilities LLC7 45,354 + 133 + 45,354 45,378

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 40,720 + 437 + 40,720 40,893

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,549 + 1 + 16,549 16,550

Net portfolio holdings of TALF II LLC7 11,755 + 39 + 11,755 11,762

Float -219 + 27 - 118 -319

Central bank liquidity swaps8 7,451 - 681 + 7,408 7,642

Other Federal Reserve assets9 38,990 + 1,028 + 11,562 39,140

Foreign currency denominated assets10 21,601 - 20 + 891 21,780

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,453 + 14 + 440 50,453

Total factors supplying reserve funds 7,199,160 + 65,488 +3,178,993 7,225,867

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 21, 2020 Oct 14, 2020 Oct 23, 2019

Wednesday

Oct 21, 2020

Currency in circulation11 2,042,094 + 1,002 + 270,561 2,042,729

Reverse repurchase agreements12 189,336 - 804 - 121,670 187,435

Foreign official and international accounts 189,333 - 777 - 104,666 187,435

Others 3 - 27 - 17,004 0

Treasury cash holdings 39 + 12 - 161 43

Deposits with F.R. Banks, other than reserve balances 1,942,811 + 68,635 +1,500,009 1,941,585

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,724,792 + 43,794 +1,346,807 1,699,497

Foreign official 20,034 + 1,132 + 14,847 21,247

Other13 197,985 + 23,708 + 138,355 220,841

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

Other liabilities and capital15 50,401 - 1,907 + 4,818 49,945

Total factors, other than reserve balances,

absorbing reserve funds 4,338,680 + 66,937 +1,767,557 4,335,737

Reserve balances with Federal Reserve Banks 2,860,480 - 1,449 +1,411,437 2,890,130

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 21, 2020 Oct 14, 2020 Oct 23, 2019

Wednesday

Oct 21, 2020

Securities held in custody for foreign official and international

accounts 3,402,789 - 7,711 - 16,719 3,396,459

Marketable U.S. Treasury securities1 2,970,804 - 7,947 - 1,859 2,954,125

Federal agency debt and mortgage-backed securities2 346,426 + 736 - 17,781 356,847

Other securities3 85,559 - 500 + 2,921 85,487

Securities lent to dealers 21,598 - 6,735 - 921 25,288

Overnight facility4 21,598 - 6,735 - 921 25,288

U.S. Treasury securities 21,598 - 6,735 - 921 25,288

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 21, 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 1,872 5,291 1,924 64,126 0 ... 73,212

U.S. Treasury securities2

Holdings 79,660 264,999 656,206 1,701,341 805,291 1,002,280 4,509,778

Weekly changes + 29,767 - 19,510 + 206 + 3,828 + 7,354 + 3,154 + 24,800

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 2,135 77,612 1,967,483 2,047,235

Weekly changes 0 0 0 - 5 - 640 + 1,042 + 396

Commercial paper held by Commercial

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

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 3,358 ... ... 3,358

Municipal notes held by Municipal

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

Loans held by TALF II LLC8 0 0 0 3,159 ... ... 3,159

Repurchase agreements9 1,000 0 ... ... ... ... 1,000

Central bank liquidity swaps10 1,959 5,684 0 0 0 0 7,642

Reverse repurchase agreements9 187,435 0 ... ... ... ... 187,435

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 21, 2020

Mortgage-backed securities held outright1 2,047,235

Residential mortgage-backed securities 2,037,696

Commercial mortgage-backed securities 9,539

Commitments to buy mortgage-backed securities2 116,029

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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

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

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

securities generally settle within three business days.

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

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Oct 21, 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 0 0 8,559 8,559

Corporate Credit Facilities LLC 13,176 13,309 32,070 45,378

MS Facilities LLC (Main Street Lending Program) 3,357 3,358 37,535 40,893

Municipal Liquidity Facility LLC 1,651 1,651 14,899 16,550

TALF II LLC 3,252 3,159 8,603 11,762

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 21, 2020 Oct 14, 2020 Oct 23, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,482 - 1 - 198

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,967,787 + 24,982 +3,065,523

Securities held outright1 6,559,360 + 25,196 +2,949,911

U.S. Treasury securities 4,509,778 + 24,800 +2,360,590

Bills2 326,044 0 + 297,539

Notes and bonds, nominal2 3,847,392 + 20,536 +1,872,223

Notes and bonds, inflation-indexed2 294,761 + 3,602 + 173,768

Inflation compensation3 41,581 + 662 + 17,060

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,047,235 + 396 + 589,321

Unamortized premiums on securities held outright5 338,824 + 1,256 + 211,635

Unamortized discounts on securities held outright5 -4,608 - 11 + 8,025

Repurchase agreements6 1,000 0 - 177,204

Loans7 73,212 - 1,458 + 73,158

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,559 0 + 8,559

Net portfolio holdings of Corporate Credit Facilities LLC8 45,378 + 78 + 45,378

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 40,893 + 346 + 40,893

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,550 + 1 + 16,550

Net portfolio holdings of TALF II LLC8 11,762 + 46 + 11,762

Items in process of collection (0) 54 - 47 + 4

Bank premises 2,196 + 2 + 5

Central bank liquidity swaps9 7,642 + 164 + 7,599

Foreign currency denominated assets10 21,780 + 166 + 1,107

Other assets11 36,944 + 101 + 11,382

Total assets (0) 7,177,265 + 25,839 +3,208,565

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 21, 2020 Oct 14, 2020 Oct 23, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,993,797 - 55 + 268,777

Reverse repurchase agreements12 187,435 - 8,393 - 118,612

Deposits (0) 4,831,715 + 40,274 +2,939,397

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,890,130 - 17,604 +1,438,575

U.S. Treasury, General Account 1,699,497 + 51,560 +1,324,327

Foreign official 21,247 + 2,345 + 16,061

Other13 (0) 220,841 + 3,973 + 160,434

Deferred availability cash items (0) 373 - 230 + 196

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

Other liabilities and accrued dividends15 10,722 - 5,757 + 4,929

Total liabilities (0) 7,138,042 + 25,838 +3,208,686

Capital accounts

Capital paid in 32,398 + 1 - 121

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,223 + 1 - 121

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 21, 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 1,482 26 32 124 81 206 148 249 28 40 100 170 278

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,967,787 162,477 3,581,958 163,844 217,985 435,952 511,751 388,744 110,764 72,244 115,621 335,194 871,252

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,559 0 8,559 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 45,378 0 45,378 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 40,893 40,893 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,550 0 16,550 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 11,762 0 11,762 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 7,642 363 2,568 275 653 1,613 379 297 125 60 81 91 1,138

Foreign currency denominated

assets4 21,780 1,034 7,322 784 1,861 4,596 1,080 846 357 171 230 259 3,242

Other assets5 39,193 2,480 17,551 960 1,285 2,722 2,952 2,216 765 494 920 2,090 4,759

Interdistrict settlement account 0 - 43,514 + 414,078 - 26,035 + 44,000 + 68,648 - 121,742 - 21,955 - 25,806 - 16,036 - 25,838 - 54,852 - 190,949

Total assets 7,177,265 164,292 4,111,241 140,480 266,626 514,903 396,751 371,534 86,713 57,241 91,564 284,154 691,764

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 21, 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 1,993,797 62,029 665,649 55,835 93,862 134,220 279,885 128,627 59,148 33,045 54,853 167,773 258,871

Reverse repurchase agreements6 187,435 4,209 97,046 4,276 5,864 11,747 13,813 10,469 2,961 1,771 2,981 9,033 23,263

Deposits 4,831,715 56,731 3,255,867 78,626 163,104 359,801 100,393 230,229 23,616 21,548 33,016 106,142 402,642

Depository institutions 2,890,130 56,715 1,429,705 78,625 163,067 358,846 100,285 117,958 23,610 21,486 32,985 104,252 402,596

U.S. Treasury, General Account 1,699,497 0 1,699,497 0 0 0 0 0 0 0 0 0 0

Foreign official 21,247 2 21,221 1 3 8 2 2 1 0 0 0 6

Other7 220,841 14 105,445 0 34 947 105 112,269 5 61 30 1,890 40

Earnings remittances due to the U.S.

Treasury8 1,587 35 826 35 55 113 114 85 22 11 20 70 202

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 9,508 457 3,681 299 360 842 750 592 237 538 274 473 1,005

Total liabilities 7,138,042 162,460 4,098,070 139,072 263,246 506,724 394,955 370,001 85,984 56,913 91,143 283,490 685,983

Capital

Capital paid in 32,398 1,508 10,878 1,162 2,797 6,738 1,458 1,268 616 275 349 583 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 7,177,265 164,292 4,111,241 140,480 266,626 514,903 396,751 371,534 86,713 57,241 91,564 284,154 691,764

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 21, 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 21, 2020

Federal Reserve notes outstanding 2,143,901

Less: Notes held by F.R. Banks not subject to collateralization 150,104

Federal Reserve notes to be collateralized 1,993,797

Collateral held against Federal Reserve notes 1,993,797

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,977,560

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,560,360

Less: Face value of securities under reverse repurchase agreements 178,332

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,382,028

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.