FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 10, 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

Jun 9, 2021 Jun 2, 2021 Jun 10, 2020

Wednesday

Jun 9, 2021

Reserve Bank credit 7,905,385 + 25,472 + 792,177 7,912,984

Securities held outright1 7,371,166 + 22,091 +1,390,033 7,376,508

U.S. Treasury securities 5,124,549 + 22,091 + 981,358 5,129,891

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,402,453 + 19,807 + 881,965 4,405,568

Notes and bonds, inflation-indexed2 344,343 + 1,487 + 84,192 346,058

Inflation compensation3 51,710 + 797 + 15,202 52,221

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

Mortgage-backed securities4 2,244,270 0 + 408,675 2,244,270

Unamortized premiums on securities held outright5 349,384 + 412 + 43,274 349,680

Unamortized discounts on securities held outright5 -13,740 - 104 - 8,265 -13,863

Repurchase agreements6 0 0 - 184,315 0

Foreign official 0 0 0 0

Others 0 0 - 184,314 0

Loans 86,509 + 1,724 - 13,094 87,580

Primary credit 486 - 92 - 8,766 502

Secondary credit 0 0 0 0

Seasonal credit 9 + 4 - 1 9

Primary Dealer Credit Facility 0 0 - 5,846 0

Money Market Mutual Fund Liquidity Facility 0 0 - 28,168 0

Paycheck Protection Program Liquidity Facility 86,014 + 1,812 + 29,689 87,069

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,554 0 - 4,241 8,554

Net portfolio holdings of Corporate Credit Facilities LLC7 25,906 - 57 - 10,914 25,856

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,569 + 7 + 26,015 30,576

Net portfolio holdings of Municipal Liquidity Facility LLC7 10,817 - 64 - 5,259 10,734

Net portfolio holdings of TALF II LLC7 4,761 - 23 + 4,761 4,762

Float -109 + 505 + 76 -132

Central bank liquidity swaps8 516 - 126 - 445,743 516

Other Federal Reserve assets9 31,051 + 1,106 - 153 32,213

Foreign currency denominated assets10 21,674 - 53 + 822 21,682

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,670 + 14 + 435 50,670

Total factors supplying reserve funds 7,993,970 + 25,433 + 793,434 8,001,576

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

Jun 9, 2021 Jun 2, 2021 Jun 10, 2020

Wednesday

Jun 9, 2021

Currency in circulation11 2,180,092 + 3,178 + 226,250 2,180,167

Reverse repurchase agreements12 710,510 + 8,168 + 468,888 720,936

Foreign official and international accounts 222,570 - 9,760 - 18,871 218,032

Others 487,940 + 17,928 + 487,759 502,904

Treasury cash holdings 38 + 1 - 113 42

Deposits with F.R. Banks, other than reserve balances 1,126,770 - 48,573 - 541,912 1,081,895

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 730,235 - 53,000 - 776,323 673,555

Foreign official 27,388 + 542 + 11,018 27,493

Other13 369,147 + 3,885 + 223,392 380,848

Treasury contributions to credit facilities14 50,278 0 - 53,722 50,278

Other liabilities and capital15 51,910 + 2,415 + 1,898 51,532

Total factors, other than reserve balances,

absorbing reserve funds 4,119,599 - 34,810 + 101,291 4,084,851

Reserve balances with Federal Reserve Banks 3,874,371 + 60,244 + 692,143 3,916,725

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 $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

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

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

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jun 9, 2021 Jun 2, 2021 Jun 10, 2020

Wednesday

Jun 9, 2021

Securities held in custody for foreign official and international

accounts 3,547,626 + 11,517 + 140,570 3,541,703

Marketable U.S. Treasury securities1 3,107,895 + 11,611 + 163,100 3,101,823

Federal agency debt and mortgage-backed securities2 350,608 - 316 - 26,739 350,606

Other securities3 89,123 + 223 + 4,209 89,274

Securities lent to dealers 36,204 - 2,270 + 2,477 37,226

Overnight facility4 36,204 - 2,270 + 2,477 37,226

U.S. Treasury securities 36,204 - 2,270 + 2,477 37,226

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, June 9, 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 351 160 20,115 66,951 3 ... 87,580

U.S. Treasury securities2

Holdings 50,731 327,810 643,991 1,978,648 933,934 1,194,777 5,129,891

Weekly changes - 11,590 + 11,289 + 360 + 1,842 + 5,179 + 3,786 + 10,868

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 15 1,847 67,409 2,174,999 2,244,270

Weekly changes 0 0 0 0 + 278 - 278 0

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 16,298 ... ... 16,298

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 0 5,358 ... ... 5,358

Loans held by TALF II LLC8 0 0 0 1,675 ... ... 1,675

Repurchase agreements9 0 0 ... ... ... ... 0

Central bank liquidity swaps10 163 353 0 0 0 0 516

Reverse repurchase agreements9 720,936 0 ... ... ... ... 720,936

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

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 Jun 9, 2021

Mortgage-backed securities held outright1 2,244,270

Residential mortgage-backed securities 2,234,447

Commercial mortgage-backed securities 9,823

Commitments to buy mortgage-backed securities2 233,470

Commitments to sell mortgage-backed securities2 2,020

Cash and cash equivalents3 1

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 Jun 9, 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

Commercial Paper Funding Facility II LLC 0 0 8,554 8,554

Corporate Credit Facilities LLC 13,609 13,405 12,451 25,856

MS Facilities LLC (Main Street Lending Program) 16,282 13,639 16,936 30,576

Municipal Liquidity Facility LLC 5,358 5,358 5,376 10,734

TALF II LLC 1,733 1,675 3,086 4,762

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, net of an allowance for loan losses

 updated as of March 31, 2021.

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 approximately 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

Jun 9, 2021 Jun 2, 2021 Jun 10, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,243 + 3 - 169

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,799,905 + 13,850 +1,244,663

Securities held outright1 7,376,508 + 10,867 +1,388,157

U.S. Treasury securities 5,129,891 + 10,868 + 979,482

Bills2 326,044 0 0

Notes and bonds, nominal2 4,405,568 + 6,578 + 878,794

Notes and bonds, inflation-indexed2 346,058 + 3,202 + 84,907

Inflation compensation3 52,221 + 1,088 + 15,781

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,244,270 0 + 408,675

Unamortized premiums on securities held outright5 349,680 + 548 + 42,864

Unamortized discounts on securities held outright5 -13,863 - 168 - 8,411

Repurchase agreements6 0 0 - 167,300

Loans7 87,580 + 2,603 - 10,647

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,554 0 - 4,242

Net portfolio holdings of Corporate Credit Facilities LLC8 25,856 - 107 - 11,518

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,576 + 9 - 1,299

Net portfolio holdings of Municipal Liquidity Facility LLC8 10,734 - 148 - 5,343

Net portfolio holdings of TALF II LLC8 4,762 + 1 + 4,762

Items in process of collection (0) 50 - 24 + 10

Bank premises 1,918 + 7 - 283

Central bank liquidity swaps9 516 + 3 - 444,004

Foreign currency denominated assets10 21,682 - 133 + 667

Other assets11 30,295 + 3,164 + 148

Total assets (0) 7,952,327 + 16,624 + 783,391

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

Jun 9, 2021 Jun 2, 2021 Jun 10, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,130,778 + 1,039 + 223,751

Reverse repurchase agreements12 720,936 + 48,030 + 480,122

Deposits (0) 4,998,620 - 33,262 + 131,338

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,916,725 + 68,463 + 726,071

U.S. Treasury, General Account 673,555 - 138,532 - 831,014

Foreign official 27,493 + 745 + 11,237

Other13 (0) 380,848 + 36,063 + 225,046

Deferred availability cash items (0) 182 - 592 - 95

Treasury contributions to credit facilities14 50,278 0 - 53,722

Other liabilities and accrued dividends15 12,020 + 1,405 + 1,399

Total liabilities (0) 7,912,815 + 16,620 + 782,794

Capital accounts

Capital paid in 32,727 + 3 + 636

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,512 + 3 + 596

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 $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, June 9, 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 1,243 19 29 109 58 178 114 227 14 34 85 146 230

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,799,905 129,043 4,371,337 167,637 294,794 519,367 453,155 421,870 101,759 82,935 105,718 342,224 810,065

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,554 0 8,554 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 25,856 0 25,856 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,576 30,576 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 10,734 0 10,734 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,762 0 4,762 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 516 23 173 19 45 107 23 20 10 4 6 9 76

Foreign currency denominated

assets4 21,682 984 7,288 778 1,875 4,512 981 849 412 184 235 391 3,193

Other assets5 32,263 625 16,717 778 1,220 2,425 1,988 1,786 698 430 726 1,596 3,275

Interdistrict settlement account 0 + 14,324 - 278,807 + 30,755 + 4,081 + 4,778 + 32,260 + 77,524 + 9,678 - 12,001 + 6,336 + 26,907 + 84,164

Total assets 7,952,327 176,126 4,172,064 200,599 302,824 532,554 490,709 503,413 113,048 71,859 113,560 372,493 903,078

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, June 9, 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 2,130,778 62,947 697,676 63,068 104,670 157,331 300,898 128,163 58,333 32,523 53,490 190,116 281,564

Reverse repurchase agreements6 720,936 12,047 407,513 15,227 26,232 48,309 42,241 39,342 9,399 5,578 9,573 31,881 73,593

Deposits 4,998,620 84,775 3,011,596 120,550 167,949 317,745 145,009 333,639 44,312 33,165 49,774 149,115 540,991

Depository institutions 3,916,725 84,759 2,107,655 120,549 167,827 316,739 144,885 160,369 44,304 32,416 48,417 147,842 540,965

U.S. Treasury, General Account 673,555 0 673,555 0 0 0 0 0 0 0 0 0 0

Foreign official 27,493 2 27,466 1 3 8 2 2 1 0 0 1 6

Other7 380,848 14 202,920 0 118 998 122 173,268 8 749 1,357 1,273 21

Earnings remittances due to the U.S.

Treasury8 3,021 23 1,789 59 106 190 167 160 35 20 40 130 303

Treasury contributions to credit facilities9 50,278 16,572 33,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 9,181 -2,020 6,518 285 360 812 601 568 226 348 250 419 814

Total liabilities 7,912,815 174,346 4,158,798 199,188 299,317 524,386 488,916 501,872 112,305 71,635 113,126 371,662 897,265

Capital

Capital paid in 32,727 1,472 10,986 1,167 2,921 6,756 1,486 1,275 613 167 361 709 4,815

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 7,952,327 176,126 4,172,064 200,599 302,824 532,554 490,709 503,413 113,048 71,859 113,560 372,493 903,078

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, June 9, 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. 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 each Federal Reserve Bank’s allotted surplus cap.

9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, 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 Jun 9, 2021

Federal Reserve notes outstanding 2,311,615

Less: Notes held by F.R. Banks not subject to collateralization 180,836

Federal Reserve notes to be collateralized 2,130,778

Collateral held against Federal Reserve notes 2,130,778

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,114,542

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,376,508

Less: Face value of securities under reverse repurchase agreements 682,197

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,694,311

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.