FEDERAL RESERVE statistical release

For Release at
4:30 P.M. Eastern time
May 21, 2020

The Board's H.4.1 statistical release, "Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks," has been modified to indicate additional information related to
the Money Market Mutual Fund Liquidity Facility (MMLF). The amount provided by the U.S. Treasury on May 20,
2020, as credit protection for the MMLF is included in the line "Treasury contributions to credit facilities" in
tables 1, 4, and 5. The MMLF was announced in the H.4.1 cover note on March 26, 2020
https://www.federalreserve.gov/releases/h41/20200326/.                                                      

FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and     
Condition Statement of Federal Reserve Banks                                                     May 21, 2020


1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  May 20, 2020 
Federal Reserve Banks                                     May 20, 2020 May 13, 2020 May 22, 2019              

Reserve Bank credit                                         6,922,036   +  179,871   +3,097,551    6,998,687  
  Securities held outright (1)                              5,872,570   +  199,595   +2,188,336    5,954,518  
    U.S. Treasury securities                                4,074,075   +   34,486   +1,959,571    4,089,331  
      Bills (2)                                               326,044            0   +  325,994      326,044  
      Notes and bonds, nominal (2)                          3,457,123   +   30,864   +1,480,558    3,471,224  
      Notes and bonds, inflation-indexed (2)                  254,194   +    3,428   +  138,833      255,266  
      Inflation compensation (3)                               36,714   +      194   +   14,186       36,797  
    Federal agency debt securities (2)                          2,347            0            0        2,347  
    Mortgage-backed securities (4)                          1,796,148   +  165,108   +  228,765    1,862,841  
  Unamortized premiums on securities held outright (5)        300,167   +   10,474   +  166,930      304,104  
  Unamortized discounts on securities held outright (5)        -5,671   -      249   +    7,375       -5,691  
  Repurchase agreements (6)                                   161,729   -   20,758   +  161,729      157,351  
    Foreign official                                                0   -    1,402            0            1  
    Others                                                    161,729   -   19,357   +  161,729      157,350  
  Loans                                                       111,789   -    2,455   +  111,737      108,577  
    Primary credit                                             21,482   -    3,461   +   21,474       19,535  
    Secondary credit                                                0            0            0            0  
    Seasonal credit                                                 2            0   -       42            3  
    Primary Dealer Credit Facility                              8,969   -    3,075   +    8,969        7,501  
    Money Market Mutual Fund Liquidity Facility                38,047   -    3,286   +   38,047       36,449  
    Paycheck Protection Program Liquidity Facility             43,289   +    7,366   +   43,289       45,090  
    Other credit extensions                                         0            0            0            0  
  Net portfolio holdings of Commercial Paper Funding      
    Facility II LLC (7)                                         4,292   +       46   +    4,292        4,293  
  Net portfolio holdings of Corporate Credit Facility     
  LLC (7)                                                       1,183   +    1,139   +    1,183        1,801  
  Float                                                          -174   +        7   -       32         -209  
  Central bank liquidity swaps (8)                            446,299   +    3,461   +  446,282      446,103  
  Other Federal Reserve assets (9)                             29,852   -   11,387   +    9,721       27,841  
Foreign currency denominated assets (10)                       20,481   -       17   -      147       20,595  
Gold stock                                                     11,041            0            0       11,041  
Special drawing rights certificate account                      5,200            0            0        5,200  
Treasury currency outstanding (11)                             50,317   +       14   +      414       50,317  
                                                                                                              
Total factors supplying reserve funds                       7,009,076   +  179,869   +3,097,819    7,085,841  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and                          Averages of daily figures         Wednesday  
reserve balances of depository institutions at             Week ended    Change from week ended  May 20, 2020 
Federal Reserve Banks                                     May 20, 2020 May 13, 2020 May 22, 2019              

Currency in circulation (11)                                 1,933,267   +    7,538   +  201,126    1,938,599 
Reverse repurchase agreements (12)                             260,848   -   13,301   -    7,760      266,649 
  Foreign official and international accounts                  258,851   -   12,756   -    3,102      256,923 
  Others                                                         1,997   -      545   -    4,658        9,726 
Treasury cash holdings                                             273   -       20   -       26          245 
Deposits with F.R. Banks, other than reserve balances        1,441,573   +   51,463   +1,095,323    1,476,591 
  Term deposits held by depository institutions                      0            0            0            0 
  U.S. Treasury, General Account                             1,194,410   +   16,916   +  911,546    1,193,297 
  Foreign official                                              16,318   -       16   +   11,073       16,228 
  Other (13)                                                   230,845   +   34,563   +  172,704      267,066 
Treasury contributions to credit facilities (14)                47,714   +   21,641   +   47,714       49,000 
Other liabilities and capital (15)                              52,097   -    3,826   +    6,295       50,537 
                                                                                                              
Total factors, other than reserve balances,               
    absorbing reserve funds                                  3,735,772   +   63,494   +1,342,672    3,781,620 
                                                                                                              
Reserve balances with Federal Reserve Banks                  3,273,303   +  116,374   +1,755,146    3,304,221 

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.  Refer to the note on consolidation accompanying table 5.                                                
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     
    and Corporate Credit Facility LLC of $37.5 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.





1A. Memorandum Items
Millions of dollars
Memorandum item                                                  Averages of daily figures         Wednesday  
                                                           Week ended    Change from week ended  May 20, 2020 
                                                          May 20, 2020 May 13, 2020 May 22, 2019              

Securities held in custody for foreign official and       
     international accounts                                  3,388,408   +   21,876   -   80,452    3,389,296 
  Marketable U.S. Treasury securities (1)                    2,919,746   +   19,044   -  140,343    2,922,155 
  Federal agency debt and mortgage-backed securities (2)       383,717   +    2,659   +   50,045      381,657 
  Other securities (3)                                          84,945   +      173   +    9,846       85,484 
Securities lent to dealers                                      32,347   -    1,045   +   11,417       34,356 
  Overnight facility (4)                                        32,347   -    1,045   +   11,417       34,356 
    U.S. Treasury securities                                    32,347   -    1,045   +   11,417       34,356 
    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, 4, and 5.     
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.                                           






2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, May 20, 2020        

Millions of dollars
Remaining Maturity                     Within 15     16 days to    91 days to   Over 1 year   Over 5 year     Over 10         All      
                                          days        90 days        1 year      to 5 years   to 10 years      years                   

Loans (1)                                    9,723        41,376        12,389        45,090             0           ...       108,577 
U.S. Treasury securities (2)                                                                                                           
  Holdings                                  66,859       274,175       557,843     1,568,066       711,258       911,130     4,089,331 
  Weekly changes                        -   35,822    +   56,714    -    3,800    -   16,428    +   24,630    +    6,769    +   32,063 
Federal agency debt securities (3)                                                                                                     
  Holdings                                       0             0             0             0         1,436           911         2,347 
  Weekly changes                                 0             0             0             0    +      285    -      285             0 
Mortgage-backed securities (4)                                                                                                         
  Holdings                                       0             0             5         2,291        81,905     1,778,639     1,862,841 
  Weekly changes                                 0             0             0    +      277    +    2,861    +   75,942    +   79,080 
Commercial paper held by Commercial                                                                                                    
  Paper Funding Facility II LLC (5)              0         4,255             0           ...           ...           ...         4,255 
Repurchase agreements (6)                    9,201       148,150           ...           ...           ...           ...       157,351 
Central bank liquidity swaps (7)            13,519       432,584             0             0             0             0       446,103 
Reverse repurchase agreements (6)          266,649             0           ...           ...           ...           ...       266,649 
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 and Corporate Credit Facility LLC, which   
    were eliminated when preparing the FRBNY's statement of condition 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.  Face value of commercial paper held by Commercial Paper Funding Facility II LLC.                        
6.  Cash value of agreements.                                                                               
7.  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.     
                                                                                                            






3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name                                                                                                            Wednesday   
                                                                                                                      May 20, 2020  

Mortgage-backed securities held outright (1)                                                                             1,862,841  
  Residential mortgage-backed securities                                                                                 1,853,985  
  Commercial mortgage-backed securities                                                                                      8,856  
                                                                                                                                    
Commitments to buy mortgage-backed securities (2)                                                                          102,673  
Commitments to sell mortgage-backed securities (2)                                                                               0  
                                                                                                                                    
Cash and cash equivalents (3)                                                                                                   13  



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 4       
    and table 5.                                                                                        







4. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       May 20, 2020   Wednesday    Wednesday  
                                                        consolidation                May 13, 2020 May 22, 2019 

Assets                                                                                                         
  Gold certificate account                                                   11,037            0            0  
  Special drawing rights certificate account                                  5,200            0            0  
  Coin                                                                        1,478   -       31   -      183  
  Securities, unamortized premiums and discounts,     
     repurchase agreements, and loans                                     6,518,859   +  111,040   +2,717,465  
    Securities held outright (1)                                          5,954,518   +  111,142   +2,273,174  
      U.S. Treasury securities                                            4,089,331   +   32,063   +1,974,762  
        Bills (2)                                                           326,044            0   +  325,994  
        Notes and bonds, nominal (2)                                      3,471,224   +   28,608   +1,494,659  
        Notes and bonds, inflation-indexed (2)                              255,266   +    3,250   +  139,905  
        Inflation compensation (3)                                           36,797   +      205   +   14,205  
      Federal agency debt securities (2)                                      2,347            0            0  
      Mortgage-backed securities (4)                                      1,862,841   +   79,080   +  298,413  
    Unamortized premiums on securities held outright  
    (5)                                                                     304,104   +    6,588   +  171,070  
    Unamortized discounts on securities held outright 
    (5)                                                                      -5,691   -      337   +    7,343  
    Repurchase agreements (6)                                               157,351   -        3   +  157,351  
    Loans (7)                                                               108,577   -    6,350   +  108,527  
  Net portfolio holdings of Commercial Paper          
    Funding Facility II LLC (8)                                               4,293   +        1   +    4,293  
  Net portfolio holdings of Corporate Credit          
  Facility LLC (8)                                                            1,801   +    1,496   +    1,801  
  Items in process of collection                                   (0)           51   +        2   -       59  
  Bank premises                                                               2,206   +        1   +        9  
  Central bank liquidity swaps (9)                                          446,103   +    5,169   +  446,086  
  Foreign currency denominated assets (10)                                   20,595   +      111   -        5  
  Other assets (11)                                                          25,635   -   14,759   +    7,417  
                                                                                                               
Total assets                                                       (0)    7,037,258   +  103,031   +3,176,823  

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





4. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital                         Eliminations     Wednesday         Change since       
                                                             from       May 20, 2020   Wednesday    Wednesday  
                                                        consolidation                May 13, 2020 May 22, 2019 

Liabilities                                                                                                    
  Federal Reserve notes, net of F.R. Bank holdings                         1,890,000   +    8,681   +  203,106 
  Reverse repurchase agreements (12)                                         266,649   -   14,501   -    2,589 
  Deposits                                                          (0)    4,780,812   +  116,846   +2,922,238 
    Term deposits held by depository institutions                                  0            0            0 
    Other deposits held by depository institutions                         3,304,221   +   40,790   +1,771,388 
    U.S. Treasury, General Account                                         1,193,297   +   55,125   +  928,716 
    Foreign official                                                          16,228   -      100   +   10,983 
    Other (13)                                                      (0)      267,066   +   21,032   +  211,150 
  Deferred availability cash items                                  (0)          261   -       27   -       18 
  Treasury contributions to credit facilities (14)                            49,000   +    1,500   +   49,000 
  Other liabilities and accrued dividends (15)                                11,644   -    9,470   +    5,595 
                                                                                                               
Total liabilities                                                   (0)    6,998,365   +  103,029   +3,177,330 
                                                                                                               
Capital accounts                                                                                               
  Capital paid in                                                             32,069   +        3   -      506 
  Surplus                                                                      6,825            0            0 
  Other capital accounts                                                           0            0            0 
                                                                                                               
Total capital                                                                 38,894   +        3   -      506 

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.  Refer to the note on consolidation accompanying table 5.                                                
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     
    and Corporate Credit Facility LLC of $37.5 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.                               

 



5. Statement of Condition of Each Federal Reserve Bank, May 20, 2020
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia  Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                         City                 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                                             1,478          30          42          136          85         200         140         251          21          39          96         165         272
  Securities, unamortized premiums and      
     discounts, repurchase agreements,      
     and loans (1)                             6,518,859     183,417   3,351,183      148,095     201,286     406,387     475,714     362,141     103,046      63,346     105,785     311,410     807,049
  Net portfolio holdings of Commercial      
     Paper Funding Facility II LLC (2)             4,293           0       4,293            0           0           0           0           0           0           0           0           0           0
  Net portfolio holdings of Corporate       
    Credit Facility LLC (2)                        1,801           0       1,801            0           0           0           0           0           0           0           0           0           0
  Central bank liquidity swaps (3)               446,103      21,175     149,919       16,053      38,122      94,158      22,125      17,324       7,313       3,493       4,705       5,296      66,420
  Foreign currency denominated                                                                                                                                                                           
     assets (4)                                   20,595         977       6,924          741       1,760       4,346       1,021         800         338         161         217         244       3,066
  Other assets (5)                                27,892       2,257      11,678          685         944       2,053       2,109       1,581         606         381         734       1,524       3,340
  Interdistrict settlement account                     0  -   68,907  +  475,147   -   12,928  -   21,927  +   49,613  -  126,068  -   13,204  -   23,772  -   11,084  -   18,276  -    8,142  -  220,452
                                                                                                                                                                                                         
Total assets                                   7,037,258     139,482   4,006,469      153,311     221,030     557,923     377,224     370,030      88,031      56,606      93,711     311,700     661,741

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, May 20, 2020 (continued)
Millions of dollars
Assets, liabilities, and capital               Total       Boston     New York  Philadelphia Cleveland    Richmond    Atlanta     Chicago    St. Louis  Minneapolis    Kansas      Dallas       San     
                                                                                                                                                                        City                 Francisco  

Liabilities                                                                                                                                                                                             
  Federal Reserve notes, net                   1,890,000      58,667     625,893      51,182      85,394     126,535     260,371     125,038      58,357      30,570      52,261     157,167     258,565
  Reverse repurchase agreements (6)              266,649       5,988     138,059       6,084       8,343      16,712      19,651      14,894       4,213       2,520       4,240      12,851      33,094
  Deposits                                     4,780,812      71,052   3,178,749      94,216     123,425     405,230      94,093     227,637      24,498      22,705      36,436     140,252     362,519
    Depository institutions                    3,304,221      71,032   1,834,068      94,214     121,683     404,479      92,896     109,326      24,491      22,652      31,446     135,420     362,512
    U.S. Treasury, General Account             1,193,297           0   1,193,297           0           0           0           0           0           0           0           0           0           0
    Foreign official                              16,228           2      16,201           1           3           8           2           2           1           0           0           0           6
    Other (7)                                    267,066          18     135,182           0       1,738         742       1,195     118,310           6          53       4,990       4,831           1
  Earnings remittances due to the U.S.      
     Treasury (8)                                  1,530          43         795          32          53         104         109          82          20          10          18          68         195
  Treasury contributions to credit          
     facilities (9)                               49,000       1,500      47,500           0           0           0           0           0           0           0           0           0           0
  Other liabilities and accrued             
     dividends                                    10,374         403       2,470         409         518       1,157       1,099         865         307         475         339         709       1,622
                                                                                                                                                                                                        
Total liabilities                              6,998,365     137,653   3,993,466     151,923     217,732     549,737     375,323     368,516      87,395      56,281      93,295     311,048     655,995
                                                                                                                                                                                                        
Capital                                                                                                                                                                                                 
  Capital paid in                                 32,069       1,505      10,709       1,143       2,715       6,745       1,562       1,249         524         272         344         571       4,730
  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                  7,037,258     139,482   4,006,469     153,311     221,030     557,923     377,224     370,030      88,031      56,606      93,711     311,700     661,741

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.





5. Statement of Condition of Each Federal Reserve Bank, May 20, 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.  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 and Corporate Credit Facility LLC of $37.5 billion and credit protection in the Money Market        
    Mutual Fund Liquidity Facility of $1.5 billion.                                                                                                                                                     
                                                                                                                                                                                                            


Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On April 14, 2020,
FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollar-denominated commercial paper by
eligible issuers. The assets of the CPFF II LLC are used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY. On May 12, 2020, FRBNY
began extending loans to the Corporate Credit Facility 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 are used to secure the loan from the FRBNY and the amount provided by U.S. Treasury as credit protection to the FRBNY.                                                            
The FRBNY is the managing member of CPFF II LLC and CCF LLC. 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, 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, the net assets of the LLC appears as assets on table 5 (and in table 1 and table 4), and the liabilities of the LLC to entities other than the FRBNY, 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 4).The amount provided by U.S. Treasury as credit
protection to FRBNY appears as liabilities on table 5 (and in table 1 and table 4). 
                                                                                                        




6. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral                                                        Wednesday   
                                                                                          May 20, 2020  

Federal Reserve notes outstanding                                                            2,048,021  
  Less: Notes held by F.R. Banks not subject to collateralization                              158,022  
    Federal Reserve notes to be collateralized                                               1,890,000  
Collateral held against Federal Reserve notes                                                1,890,000  
  Gold certificate account                                                                      11,037  
  Special drawing rights certificate account                                                     5,200  
  U.S. Treasury, agency debt, and mortgage-backed securities pledged (1,2)                   1,873,763  
  Other assets pledged                                                                               0  
Memo:                                                                                                   
Total U.S. Treasury, agency debt, and mortgage-backed securities (1,2)                       6,111,869  
  Less: Face value of securities under reverse repurchase agreements                           253,120  
    U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged        5,858,750  

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.