FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks August 12, 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 11, 2021 Aug 4, 2021 Aug 12, 2020

Wednesday

Aug 11, 2021

Reserve Bank credit 8,204,942 + 16,278 +1,293,823 8,218,316

Securities held outright1 7,676,796 + 19,599 +1,426,116 7,690,627

U.S. Treasury securities 5,289,664 + 19,600 + 974,867 5,303,495

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,555,122 + 17,775 + 876,172 4,568,639

Notes and bonds, inflation-indexed2 350,142 + 857 + 76,493 350,142

Inflation compensation3 58,356 + 968 + 22,202 58,670

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

Mortgage-backed securities4 2,384,785 0 + 451,249 2,384,785

Unamortized premiums on securities held outright5 353,012 + 354 + 30,480 353,035

Unamortized discounts on securities held outright5 -14,798 - 123 - 9,886 -14,803

Repurchase agreements6 0 0 0 0

Foreign official 0 0 0 0

Others 0 0 0 0

Loans 83,342 - 1,289 - 117 82,500

Primary credit 272 - 65 - 2,421 289

Secondary credit 0 - 1 0 0

Seasonal credit 17 + 3 - 22 17

Primary Dealer Credit Facility 0 0 - 794 0

Money Market Mutual Fund Liquidity Facility 0 0 - 11,758 0

Paycheck Protection Program Liquidity Facility 83,053 - 1,226 + 14,942 82,194

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,632 0

Net portfolio holdings of Corporate Credit Facilities LLC7 17,912 - 4,745 - 26,491 17,114

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 30,568 + 23 - 7,052 30,575

Net portfolio holdings of Municipal Liquidity Facility LLC7 9,763 + 1 - 6,324 9,764

Net portfolio holdings of TALF II LLC7 4,513 - 25 - 5,610 4,513

Float -107 + 217 + 83 -155

Central bank liquidity swaps8 484 + 6 - 99,298 492

Other Federal Reserve assets9 43,457 + 2,260 + 554 44,653

Foreign currency denominated assets10 21,168 - 193 - 403 21,124

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,796 + 14 + 497 50,796

Total factors supplying reserve funds 8,293,147 + 16,099 +1,293,917 8,306,477

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 11, 2021 Aug 4, 2021 Aug 12, 2020

Wednesday

Aug 11, 2021

Currency in circulation11 2,188,619 + 1,485 + 185,600 2,189,318

Reverse repurchase agreements12 1,242,742 - 17,352 +1,025,343 1,267,998

Foreign official and international accounts 273,940 - 5,014 + 56,557 267,538

Others 968,802 - 12,338 + 968,786 1,000,460

Treasury cash holdings 46 - 2 0 47

Deposits with F.R. Banks, other than reserve balances 679,299 - 54,813 -1,146,146 631,530

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 434,919 - 57,749 -1,234,814 389,747

Foreign official 7,921 + 1,810 - 8,301 7,631

Other13 236,459 + 1,126 + 96,969 234,151

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

Other liabilities and capital15 51,655 + 1,851 + 1,296 50,016

Total factors, other than reserve balances, 

absorbing reserve funds 4,202,640 - 68,830 - 7,628 4,179,187

Reserve balances with Federal Reserve Banks 4,090,506 + 84,928 +1,301,545 4,127,290

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

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

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. 
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Aug 11, 2021 Aug 4, 2021 Aug 12, 2020

Wednesday

Aug 11, 2021

Securities held in custody for foreign official and international 

accounts 3,496,272 - 11,533 + 88,486 3,498,083

Marketable U.S. Treasury securities1 3,061,645 - 11,860 + 99,094 3,063,652

Federal agency debt and mortgage-backed securities2 342,323 - 1,696 - 16,944 342,037

Other securities3 92,305 + 2,023 + 6,337 92,394

Securities lent to dealers 30,363 + 1,688 + 3,571 26,443

Overnight facility4 30,363 + 1,688 + 3,571 26,443

U.S. Treasury securities 30,363 + 1,688 + 3,571 26,443

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 11, 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 90 216 10,275 71,919 0 ... 82,500

U.S. Treasury securities2

Holdings 108,976 258,414 676,691 2,052,328 967,987 1,239,097 5,303,495

Weekly changes - 3,664 + 9,339 - 5,472 + 14,059 + 7,971 + 3,625 + 25,860

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 18 1,818 64,221 2,318,728 2,384,785

Weekly changes 0 0 0 0 0 0 0

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 16,136 ... ... 16,136

Municipal notes held by Municipal 

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

Loans held by TALF II LLC7 0 0 0 1,470 ... ... 1,470

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

Central bank liquidity swaps9 487 5 0 0 0 0 492

Reverse repurchase agreements8 1,267,998 0 ... ... ... ... 1,267,998

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 11, 2021

Mortgage-backed securities held outright1 2,384,785

Residential mortgage-backed securities 2,375,073

Commercial mortgage-backed securities 9,713

Commitments to buy mortgage-backed securities2 175,392

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 Aug 11, 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 2,629 14,485 17,114

MS Facilities LLC (Main Street Lending Program) 16,097 13,591 16,984 30,575

Municipal Liquidity Facility LLC 4,373 4,373 5,391 9,764

TALF II LLC 1,482 1,470 3,043 4,513

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 11, 2021 Aug 4, 2021 Aug 12, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,250 - 3 - 263

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,111,359 + 24,618 +1,454,205

Securities held outright1 7,690,627 + 25,860 +1,434,639

U.S. Treasury securities 5,303,495 + 25,860 + 983,402

Bills2 326,044 0 0

Notes and bonds, nominal2 4,568,639 + 25,005 + 886,870

Notes and bonds, inflation-indexed2 350,142 0 + 74,435

Inflation compensation3 58,670 + 855 + 22,097

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,384,785 0 + 451,237

Unamortized premiums on securities held outright5 353,035 + 247 + 30,073

Unamortized discounts on securities held outright5 -14,803 - 65 - 9,923

Repurchase agreements6 0 0 0

Loans7 82,500 - 1,425 - 584

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,603

Net portfolio holdings of Corporate Credit Facilities LLC8 17,114 - 5,545 - 27,299

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 30,575 + 8 - 7,159

Net portfolio holdings of Municipal Liquidity Facility LLC8 9,764 + 1 - 6,324

Net portfolio holdings of TALF II LLC8 4,513 0 - 5,611

Items in process of collection (0) 76 - 32 + 31

Bank premises 1,665 - 12 - 532

Central bank liquidity swaps9 492 + 14 - 99,290

Foreign currency denominated assets10 21,124 - 193 - 394

Other assets11 42,988 + 3,228 + 1,118

Total assets (0) 8,257,159 + 22,086 +1,299,882

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 11, 2021 Aug 4, 2021 Aug 12, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,139,815 + 698 + 182,431

Reverse repurchase agreements12 1,267,998 + 51,641 +1,049,652

Deposits (0) 4,758,820 - 30,045 + 140,793

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 4,127,290 + 81,397 +1,299,120

U.S. Treasury, General Account 389,747 - 116,124 -1,245,396

Foreign official 7,631 + 455 - 8,591

Other13 (0) 234,151 + 4,226 + 95,659

Deferred availability cash items (0) 231 + 27 - 103

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

Other liabilities and accrued dividends15 10,282 - 273 - 17

Total liabilities (0) 8,217,425 + 22,049 +1,299,034

Capital accounts

Capital paid in 32,949 + 37 + 887

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,734 + 37 + 847

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 11, 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 1,250 18 23 115 59 180 114 234 16 31 87 147 227

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,111,359 134,266 4,548,703 172,843 307,894 539,360 471,136 438,834 105,479 88,435 108,351 356,027 840,032

Net portfolio holdings of Corporate 

Credit Facilities LLC2 17,114 0 17,114 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,575 30,575 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 9,764 0 9,764 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,513 0 4,513 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 492 22 165 18 43 102 22 19 9 4 5 9 72

Foreign currency denominated 

assets4 21,124 959 7,101 758 1,826 4,396 955 828 402 180 229 381 3,111

Other assets5 44,729 837 23,837 1,044 1,694 3,264 2,753 2,469 742 544 910 2,079 4,556

Interdistrict settlement account 0 + 17,812 - 430,082 + 13,519 + 24,022 + 27,514 + 59,887 + 102,407 + 16,430 - 9,151 + 16,134 + 47,763 + 113,746

Total assets 8,257,159 185,020 4,186,561 188,820 336,289 576,004 537,055 545,927 123,552 80,315 126,171 407,626 963,819

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 11, 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 2,139,815 68,096 692,225 63,628 103,067 155,299 306,050 126,143 57,964 32,891 53,839 196,350 284,262

Reverse repurchase agreements6 1,267,998 21,189 716,743 26,781 46,137 84,966 74,295 69,195 16,531 9,811 16,838 56,073 129,437

Deposits 4,758,820 79,234 2,733,911 96,592 183,149 326,523 154,180 348,362 48,068 37,018 54,782 153,743 543,259

Depository institutions 4,127,290 79,222 2,285,404 96,591 183,110 325,949 154,044 167,438 48,058 36,799 53,973 153,470 543,232

U.S. Treasury, General Account 389,747 0 389,747 0 0 0 0 0 0 0 0 0 0

Foreign official 7,631 2 7,605 1 3 8 2 2 1 0 0 1 6

Other7 234,151 10 51,155 0 36 566 134 180,922 9 219 808 272 20

Earnings remittances due to the U.S. 

Treasury8 2,936 32 1,770 54 98 153 173 156 36 16 29 132 285

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 7,577 -1,870 4,900 265 330 893 589 530 210 354 247 389 740

Total liabilities 8,217,425 183,254 4,173,256 187,320 332,781 567,835 535,287 544,386 122,809 80,090 125,735 406,687 957,983

Capital

Capital paid in 32,949 1,457 11,025 1,256 2,922 6,756 1,461 1,275 614 167 362 816 4,837

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 8,257,159 185,020 4,186,561 188,820 336,289 576,004 537,055 545,927 123,552 80,315 126,171 407,626 963,819

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 11, 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 11, 2021

Federal Reserve notes outstanding 2,360,255

Less: Notes held by F.R. Banks not subject to collateralization 220,440

Federal Reserve notes to be collateralized 2,139,815

Collateral held against Federal Reserve notes 2,139,815

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,123,579

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,690,627

Less: Face value of securities under reverse repurchase agreements 1,200,452

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,490,175

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.