FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks April 14, 2022

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

Apr 13, 2022 Apr 6, 2022 Apr 14, 2021

Wednesday

Apr 13, 2022

Reserve Bank credit 8,906,114 + 6,662 +1,213,797 8,928,537

Securities held outright1 8,482,935 + 4,550 +1,317,068 8,504,586

U.S. Treasury securities 5,761,686 + 1,002 + 792,041 5,762,054

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,963,879 0 + 704,177 4,963,879

Notes and bonds, inflation-indexed2 390,840 0 + 54,025 390,840

Inflation compensation3 80,923 + 1,002 + 33,839 81,292

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

Mortgage-backed securities4 2,718,902 + 3,547 + 525,027 2,740,185

Unamortized premiums on securities held outright5 343,781 - 542 - 7,481 343,559

Unamortized discounts on securities held outright5 -21,660 - 29 - 11,765 -21,856

Repurchase agreements6 9 + 8 + 9 1

Foreign official 0 - 1 0 1

Others 9 + 9 + 9 0

Loans 23,260 - 580 - 40,744 23,258

Primary credit 443 - 84 - 265 579

Secondary credit 0 0 0 0

Seasonal credit 0 0 0 0

Primary Dealer Credit Facility 0 0 - 25 0

Money Market Mutual Fund Liquidity Facility 0 0 0 0

Paycheck Protection Program Liquidity Facility 22,817 - 496 - 40,455 22,679

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,556 0

Net portfolio holdings of Corporate Credit Facilities LLC7 0 0 - 25,940 0

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 28,877 + 9 - 2,086 28,886

Net portfolio holdings of Municipal Liquidity Facility LLC7 6,654 + 1 - 4,760 6,655

Net portfolio holdings of TALF II LLC7 2,511 0 - 2,772 2,512

Float -133 + 77 + 101 -184

Central bank liquidity swaps8 233 - 133 - 562 233

Other Federal Reserve assets9 39,646 + 3,300 + 1,284 40,888

Foreign currency denominated assets10 19,200 - 281 - 2,217 19,152

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 51,023 + 14 + 482 51,023

Total factors supplying reserve funds 8,992,579 + 6,396 +1,212,062 9,014,953

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

Apr 13, 2022 Apr 6, 2022 Apr 14, 2021

Wednesday

Apr 13, 2022

Currency in circulation11 2,270,291 + 1,067 + 117,168 2,271,295

Reverse repurchase agreements12 2,001,817 + 39,030 +1,735,827 2,070,332

Foreign official and international accounts 248,839 + 1,109 + 17,143 254,777

Others 1,752,978 + 37,921 +1,718,684 1,815,555

Treasury cash holdings 76 + 1 - 2 80

Deposits with F.R. Banks, other than reserve balances 827,493 - 23,218 - 452,756 809,830

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 547,308 - 27,143 - 377,786 543,536

Foreign official 7,862 + 363 - 24,155 9,172

Other13 272,323 + 3,563 - 50,815 257,122

Treasury contributions to credit facilities14 21,258 0 - 29,878 21,258

Other liabilities and capital15 47,999 + 54 - 4,128 48,840

Total factors, other than reserve balances, 

absorbing reserve funds 5,168,934 + 16,934 +1,366,230 5,221,636

Reserve balances with Federal Reserve Banks 3,823,644 - 10,539 - 154,169 3,793,317

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

1. Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

2. Face value of the securities.

3. Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.

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

the securities.

5. Reflects the premium or discount, which is the difference between the purchase price and the face value of the securities that has not been 

amortized. For U.S. Treasury securities, Federal agency debt securities, and mortgage-backed securities, amortization is on an effective-interest 

basis.

6. Cash value of agreements.

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

consolidation below.

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

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

foreign central bank.

9. Includes bank premises, accrued interest, and other accounts receivable.

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

12. Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities

13. Includes deposits held at the Reserve Banks by international and multilateral organizations, government-sponsored enterprises, designated financial 

market utilities, and deposits held by depository institutions in joint accounts in connection with their participation in certain private-sector payment 

arrangements. Also includes certain deposit accounts other than the U.S. Treasury, General Account, for services provided by the Reserve Banks 

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of 

$1.4 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

Apr 13, 2022 Apr 6, 2022 Apr 14, 2021

Wednesday

Apr 13, 2022

Securities held in custody for foreign official and international 

accounts 3,460,988 + 2,065 - 93,011 3,452,796

Marketable U.S. Treasury securities1 3,050,256 + 816 - 68,418 3,032,648

Federal agency debt and mortgage-backed securities2 328,733 + 1,541 - 19,124 338,175

Other securities3 81,999 - 293 - 5,468 81,974

Securities lent to dealers 44,743 - 735 + 1,893 43,854

Overnight facility4 44,743 - 735 + 1,893 43,854

U.S. Treasury securities 44,743 - 735 + 1,893 43,854

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, April 13, 2022

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 279 775 0 22,204 0 ... 23,258

U.S. Treasury securities2

Holdings 80,221 325,527 777,433 2,168,501 1,006,555 1,403,816 5,762,054

Weekly changes - 2,240 + 2,017 + 279 + 389 + 304 + 252 + 1,002

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 1 48 2,105 64,364 2,673,668 2,740,185

Weekly changes 0 0 0 0 0 + 24,831 + 24,830

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 14,547 ... ... 14,547

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 2,907 ... ... 2,907

Loans held by TALF II LLC7 0 0 0 1,264 ... ... 1,264

Repurchase agreements8 1 0 ... ... ... ... 1

Central bank liquidity swaps9 233 0 0 0 0 0 233

Reverse repurchase agreements8 2,070,332 0 ... ... ... ... 2,070,332

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 Paycheck Protection Program Liquidity Facility and other 

credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to 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 Apr 13, 2022

Mortgage-backed securities held outright1 2,740,185

Residential mortgage-backed securities 2,731,168

Commercial mortgage-backed securities 9,017

Commitments to buy mortgage-backed securities2 39,502

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 Apr 13, 2022

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

MS Facilities LLC (Main Street Lending Program) 14,563 12,532 16,353 28,886

Municipal Liquidity Facility LLC 2,907 2,907 3,748 6,655

TALF II LLC 1,311 1,264 1,248 2,512

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 MS Facilities LLC (Main Street Lending Program) includes loan participations at face value, net of an allowance for loan losses

 updated as of December 31, 2021.

b. 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.

c. 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 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

Apr 13, 2022 Apr 6, 2022 Apr 14, 2021

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,290 - 4 - 138

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,849,548 + 24,818 +1,218,263

Securities held outright1 8,504,586 + 25,832 +1,279,721

U.S. Treasury securities 5,762,054 + 1,002 + 788,555

Bills2 326,044 0 0

Notes and bonds, nominal2 4,963,879 0 + 700,880

Notes and bonds, inflation-indexed2 390,840 0 + 53,682

Inflation compensation3 81,292 + 1,003 + 33,994

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,740,185 + 24,830 + 491,166

Unamortized premiums on securities held outright5 343,559 - 531 - 8,178

Unamortized discounts on securities held outright5 -21,856 - 245 - 11,437

Repurchase agreements6 1 - 2 + 1

Loans7 23,258 - 236 - 41,844

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,556

Net portfolio holdings of Corporate Credit Facilities LLC8 0 0 - 25,959

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 28,886 + 10 - 2,084

Net portfolio holdings of Municipal Liquidity Facility LLC8 6,655 + 1 - 4,761

Net portfolio holdings of TALF II LLC8 2,512 + 1 - 2,771

Items in process of collection (0) 86 + 30 + 31

Bank premises 1,117 + 7 - 799

Central bank liquidity swaps9 233 - 133 - 562

Foreign currency denominated assets10 19,152 - 151 - 2,363

Other assets11 39,773 + 3,317 + 2,085

Total assets (0) 8,965,487 + 27,895 +1,172,383

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

Apr 13, 2022 Apr 6, 2022 Apr 14, 2021

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,221,637 + 299 + 114,386

Reverse repurchase agreements12 2,070,332 + 94,694 +1,788,479

Deposits (0) 4,603,149 - 69,411 - 696,353

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,793,319 - 56,553 - 143,135

U.S. Treasury, General Account 543,536 - 2,048 - 378,149

Foreign official 9,172 + 1,738 - 21,903

Other13 (0) 257,122 - 12,547 - 153,166

Deferred availability cash items (0) 270 + 33 - 4

Treasury contributions to credit facilities14 21,258 0 - 29,020

Other liabilities and accrued dividends15 7,622 + 2,221 - 7,056

Total liabilities (0) 8,924,269 + 27,837 +1,170,433

Capital accounts

Capital paid in 34,433 + 57 + 1,951

Surplus 6,785 0 0

Other capital accounts 0 0 0

Total capital 41,218 + 57 + 1,951

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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of 

$1.4 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, April 13, 2022

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 1,290 19 23 116 51 188 102 235 26 45 94 160 231

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,849,548 147,531 4,992,815 186,437 325,452 591,664 517,159 481,702 115,236 76,731 117,477 390,411 906,934

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 28,886 28,886 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 6,655 0 6,655 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 2,512 0 2,512 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 233 10 81 9 23 47 8 9 5 1 2 6 33

Foreign currency denominated 

assets4 19,152 825 6,671 710 1,872 3,840 623 726 386 96 198 460 2,745

Other assets5 40,976 783 21,838 959 1,549 3,043 2,504 2,240 667 528 843 1,901 4,124

Interdistrict settlement account 0 + 11,448 - 286,125 - 3,664 - 13,299 + 836 + 54,221 + 106,436 + 27,083 + 661 + 14,681 + 72,423 + 15,299

Total assets 8,965,487 190,032 4,749,891 185,090 316,398 600,805 576,805 592,483 143,877 78,335 133,750 466,580 931,441

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, April 13, 2022 (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 2,221,637 73,231 704,193 59,233 104,146 153,624 334,368 130,387 66,269 34,318 58,371 192,603 310,895

Reverse repurchase agreements6 2,070,332 34,597 1,170,268 43,727 75,331 138,729 121,305 112,978 26,992 16,019 27,492 91,553 211,340

Deposits 4,603,149 65,673 2,851,778 80,362 132,644 299,034 118,944 347,019 49,524 27,555 47,221 180,970 402,424

Depository institutions 3,793,319 65,658 2,250,524 80,361 132,592 298,264 118,911 139,902 49,517 27,246 47,191 180,798 402,356

U.S. Treasury, General Account 543,536 0 543,536 0 0 0 0 0 0 0 0 0 0

Foreign official 9,172 2 9,146 1 4 8 1 2 1 0 0 1 6

Other7 257,122 13 48,572 0 48 762 31 207,115 6 309 30 171 63

Earnings remittances due to the U.S. 

Treasury8 2,867 31 1,757 51 85 146 179 150 18 15 25 127 283

Treasury contributions to credit facilities9 21,258 15,674 5,584 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 5,025 -1,146 2,256 221 268 835 678 442 186 169 210 314 592

Total liabilities 8,924,269 188,061 4,735,836 183,594 312,474 592,368 575,474 590,976 142,988 78,077 133,319 465,568 925,535

Capital

Capital paid in 34,433 1,679 11,693 1,244 3,261 7,077 1,110 1,250 752 223 361 850 4,934

Surplus 6,785 292 2,363 252 663 1,361 221 257 137 34 70 163 973

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

Total liabilities and capital 8,965,487 190,032 4,749,891 185,090 316,398 600,805 576,805 592,483 143,877 78,335 133,750 466,580 931,441

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, April 13, 2022 (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 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 MS Facilities LLC of $15.7 billion, Municipal Liquidity Facility LLC of $4.2 billion, and TALF II LLC of $1.4 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 Apr 13, 2022

Federal Reserve notes outstanding 2,501,986

Less: Notes held by F.R. Banks not subject to collateralization 280,349

Federal Reserve notes to be collateralized 2,221,637

Collateral held against Federal Reserve notes 2,221,637

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,205,400

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,504,588

Less: Face value of securities under reverse repurchase agreements 2,157,909

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,346,678

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.