FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern Time

July 1, 2021

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 reflect the

Federal Reserve’s full return of the Treasury’s equity investment in the Commercial Paper

Funding Facility II LLC (CPFF II LLC), which occurred on June 29, 2021. Footnote 14 in

Factors Affecting Reserve Balances of Depository Institutions (table 1) and Consolidated

Statement of Condition of All Federal Reserve Banks (table 5) and footnote 9 in Statement of

Condition of Each Federal Reserve Bank (table 6) were revised accordingly.

Additionally, the outstanding amount of facility asset purchases reported in Information on

Principal Accounts of Credit Facilities LLCs (table 4) has been modified to reflect corporate

bonds at fair value instead of book value following the June 2, 2021 announcement to begin

winding down the Corporate Credit Facilities LLC portfolio.

(https://www.federalreserve.gov/newsevents/pressreleases/monetary20210602a.htm)
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 1, 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 30, 2021 Jun 23, 2021 Jul 1, 2020

Wednesday

Jun 30, 2021

Reserve Bank credit 8,039,489 - 11,533 +1,063,690 8,038,724

Securities held outright1 7,502,739 - 6,889 +1,384,488 7,505,369

U.S. Treasury securities 5,175,843 + 17,772 + 971,302 5,183,385

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,445,343 + 14,484 + 869,254 4,449,349

Notes and bonds, inflation-indexed2 349,776 + 2,232 + 83,094 352,886

Inflation compensation3 54,680 + 1,056 + 18,954 55,107

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

Mortgage-backed securities4 2,324,549 - 24,661 + 413,186 2,319,637

Unamortized premiums on securities held outright5 351,259 - 769 + 37,681 351,402

Unamortized discounts on securities held outright5 -14,194 - 207 - 8,898 -14,312

Repurchase agreements6 0 0 - 75,379 0

Foreign official 0 0 - 144 0

Others 0 0 - 75,236 0

Loans 90,994 + 4,397 - 5,892 91,126

Primary credit 460 - 136 - 5,417 477

Secondary credit 0 0 0 0

Seasonal credit 20 + 9 + 7 23

Primary Dealer Credit Facility 0 0 - 2,616 0

Money Market Mutual Fund Liquidity Facility 0 0 - 21,617 0

Paycheck Protection Program Liquidity Facility 90,514 + 4,525 + 23,751 90,626

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 1,250 - 7,304 - 11,549 0

Net portfolio holdings of Corporate Credit Facilities LLC7 25,868 + 21 - 15,491 25,902

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,539 + 9 - 6,963 30,547

Net portfolio holdings of Municipal Liquidity Facility LLC7 10,738 + 2 - 5,342 10,740

Net portfolio holdings of TALF II LLC7 4,752 - 10 - 4,001 4,689

Float -323 - 210 + 174 -1,062

Central bank liquidity swaps8 577 + 102 - 226,226 568

Other Federal Reserve assets9 35,290 - 675 + 1,087 33,756

Foreign currency denominated assets10 21,307 - 6 + 427 21,221

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,712 + 14 + 456 50,712

Total factors supplying reserve funds 8,127,750 - 11,523 +1,064,573 8,126,898

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 30, 2021 Jun 23, 2021 Jul 1, 2020

Wednesday

Jun 30, 2021

Currency in circulation11 2,180,636 + 2,179 + 213,560 2,183,581

Reverse repurchase agreements12 1,073,886 + 61,697 + 853,787 1,260,925

Foreign official and international accounts 250,780 + 5,385 + 30,938 268,986

Others 823,106 + 56,312 + 822,848 991,939

Treasury cash holdings 42 - 1 - 23 41

Deposits with F.R. Banks, other than reserve balances 995,890 - 44,160 - 834,844 1,082,185

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 745,962 + 11,273 - 911,658 851,929

Foreign official 6,772 + 1,071 - 9,445 5,255

Other13 243,156 - 56,505 + 86,259 225,002

Treasury contributions to credit facilities14 47,421 - 2,857 - 66,579 40,278

Other liabilities and capital15 49,084 - 1,130 + 2,701 48,258

Total factors, other than reserve balances,

absorbing reserve funds 4,346,959 + 15,728 + 168,601 4,615,269

Reserve balances with Federal Reserve Banks 3,780,791 - 27,251 + 895,972 3,511,630

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 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 30, 2021 Jun 23, 2021 Jul 1, 2020

Wednesday

Jun 30, 2021

Securities held in custody for foreign official and international

accounts 3,522,582 - 17,637 + 108,536 3,535,807

Marketable U.S. Treasury securities1 3,081,621 - 17,402 + 121,329 3,095,251

Federal agency debt and mortgage-backed securities2 351,954 - 226 - 16,808 351,785

Other securities3 89,007 - 10 + 4,014 88,771

Securities lent to dealers 40,275 - 648 + 12,097 48,966

Overnight facility4 40,275 - 648 + 12,097 48,966

U.S. Treasury securities 40,275 - 648 + 12,097 48,966

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 30, 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 243 256 15,443 75,180 3 ... 91,126

U.S. Treasury securities2

Holdings 79,125 267,131 678,379 1,995,709 950,972 1,212,068 5,183,385

Weekly changes - 1,063 - 32,796 + 30,770 + 12,000 + 3,379 + 7,650 + 19,940

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 13 1,758 65,210 2,252,657 2,319,637

Weekly changes 0 0 - 2 - 82 - 1,276 - 33,157 - 34,518

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 16,201 ... ... 16,201

Municipal notes held by Municipal

Liquidity Facility LLC7 397 0 0 4,373 ... ... 4,771

Loans held by TALF II LLC8 0 0 0 1,622 ... ... 1,622

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

Central bank liquidity swaps10 230 338 0 0 0 0 568

Reverse repurchase agreements9 1,260,925 0 ... ... ... ... 1,260,925

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 30, 2021

Mortgage-backed securities held outright1 2,319,637

Residential mortgage-backed securities 2,309,868

Commercial mortgage-backed securities 9,770

Commitments to buy mortgage-backed securities2 166,649

Commitments to sell mortgage-backed securities2 168

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 Jun 30, 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 0 0

Corporate Credit Facilities LLC 13,609 10,174 15,727 25,902

MS Facilities LLC (Main Street Lending Program) 16,228 13,542 17,004 30,547

Municipal Liquidity Facility LLC 5,358 4,771 5,969 10,740

TALF II LLC 1,660 1,622 3,067 4,689

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 and corporate bonds at fair 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 30, 2021 Jun 23, 2021 Jul 1, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,233 - 3 - 242

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,933,585 - 12,092 +1,339,324

Securities held outright1 7,505,369 - 14,578 +1,378,421

U.S. Treasury securities 5,183,385 + 19,940 + 970,165

Bills2 326,044 0 0

Notes and bonds, nominal2 4,449,349 + 15,376 + 868,210

Notes and bonds, inflation-indexed2 352,886 + 3,628 + 82,680

Inflation compensation3 55,107 + 937 + 19,276

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,319,637 - 34,518 + 408,256

Unamortized premiums on securities held outright5 351,402 - 824 + 37,078

Unamortized discounts on securities held outright5 -14,312 - 211 - 8,967

Repurchase agreements6 0 0 - 61,201

Loans7 91,126 + 3,521 - 6,007

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 0 - 8,554 - 12,799

Net portfolio holdings of Corporate Credit Facilities LLC8 25,902 + 39 - 16,038

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,547 + 9 - 6,955

Net portfolio holdings of Municipal Liquidity Facility LLC8 10,740 + 2 - 5,341

Net portfolio holdings of TALF II LLC8 4,689 - 73 - 4,064

Items in process of collection (0) 66 + 14 + 20

Bank premises 1,929 + 12 - 264

Central bank liquidity swaps9 568 + 85 - 224,846

Foreign currency denominated assets10 21,221 - 110 + 237

Other assets11 31,827 - 2,731 + 472

Total assets (0) 8,078,544 - 23,401 +1,069,504

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 30, 2021 Jun 23, 2021 Jul 1, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,134,139 + 4,006 + 211,152

Reverse repurchase agreements12 1,260,925 + 204,994 +1,033,689

Deposits (0) 4,593,815 - 223,223 - 104,271

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,511,630 - 254,084 + 648,434

U.S. Treasury, General Account 851,929 + 118,052 - 804,818

Foreign official 5,255 - 1,514 - 10,968

Other13 (0) 225,002 - 85,677 + 63,082

Deferred availability cash items (0) 1,128 + 905 + 327

Treasury contributions to credit facilities14 40,278 - 10,000 - 73,722

Other liabilities and accrued dividends15 8,654 - 84 + 1,570

Total liabilities (0) 8,038,940 - 23,401 +1,068,745

Capital accounts

Capital paid in 32,819 0 + 799

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,604 0 + 759

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

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

2. Face value of the securities.

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

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

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

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

basis.

6. Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

7. Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund

Liquidity Facility, Paycheck Protection Program Liquidity Facility, and other credit extensions.

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

consolidation below.

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

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

central bank.

10. Revalued daily at current foreign currency exchange rates.

11. Includes accrued interest, which represents the daily accumulation of interest earned, and other accounts receivable.

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

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

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

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

as fiscal agents of the United States.

14. Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, Municipal Liquidity

Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 30, 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 1,233 19 26 109 55 180 111 229 15 32 85 143 229

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,933,585 131,203 4,444,793 170,240 301,130 527,224 460,444 428,839 103,365 89,180 106,389 347,943 822,838

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 0 0 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 25,902 0 25,902 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,547 30,547 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 10,740 0 10,740 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,689 0 4,689 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 568 26 191 20 49 118 26 22 11 5 6 10 84

Foreign currency denominated

assets4 21,221 962 7,144 761 1,833 4,413 959 831 403 180 229 382 3,123

Other assets5 33,822 654 17,695 817 1,290 2,550 2,106 1,883 583 433 763 1,600 3,450

Interdistrict settlement account 0 + 50,634 - 395,539 + 36,117 + 21,205 + 245 + 54,923 + 98,023 + 12,892 - 12,634 + 13,955 + 25,006 + 95,173

Total assets 8,078,544 214,575 4,121,063 208,588 326,314 535,917 520,756 530,962 117,744 77,468 121,882 376,304 926,970

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 30, 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 2,134,139 64,690 697,577 63,410 104,461 156,956 299,735 128,161 57,559 32,429 53,550 194,222 281,390

Reverse repurchase agreements6 1,260,925 21,071 712,746 26,632 45,880 84,492 73,880 68,809 16,439 9,757 16,744 55,760 128,715

Deposits 4,593,815 112,466 2,667,959 116,749 172,086 285,452 144,683 331,825 42,770 33,760 50,897 125,020 510,146

Depository institutions 3,511,630 112,160 1,765,173 116,748 171,753 284,855 144,002 156,962 42,760 32,458 49,984 124,655 510,120

U.S. Treasury, General Account 851,929 0 851,929 0 0 0 0 0 0 0 0 0 0

Foreign official 5,255 2 5,228 1 3 8 2 2 1 0 0 1 6

Other7 225,002 303 45,630 0 330 588 679 174,862 10 1,302 913 364 20

Earnings remittances due to the U.S.

Treasury8 1,587 16 949 28 46 72 102 89 18 18 20 78 151

Treasury contributions to credit facilities9 40,278 16,572 23,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 8,195 -2,019 4,860 269 333 777 563 537 214 1,280 236 392 753

Total liabilities 8,038,940 212,795 4,107,796 207,087 322,807 527,749 518,963 529,421 117,001 77,244 121,448 375,473 921,156

Capital

Capital paid in 32,819 1,472 10,987 1,257 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 8,078,544 214,575 4,121,063 208,588 326,314 535,917 520,756 530,962 117,744 77,468 121,882 376,304 926,970

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 30, 2021 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between

the purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities,

amortization is on an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.

Loans includes primary, secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Paycheck Protection Program Liquidity Facility,

and other credit extensions.

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

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

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

4. Revalued daily at current foreign currency exchange rates.

5. Includes items in process of collection, bank premises, accrued interest (which represents the daily accumulation of interest earned), and other accounts receivable.

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

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

depository institutions in joint accounts in connection with their participation in certain private-sector payment arrangements. Also includes certain deposit accounts other than the U.S. Treasury,

General Account, for services provided by the Reserve Banks as fiscal agents of the United States.

8. Represents the estimated weekly remittances due to U.S. Treasury. The amounts on this line represent the residual net earnings that the Federal Reserve Banks remit to the U.S. Treasury after

providing for the costs of operations, payment of dividends, and the amount necessary to maintain each Federal Reserve Bank’s allotted surplus cap.

9. Book value. Amount of equity investments in Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC

of $3.5 billion.

 

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal

Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the

FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans

or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate

Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began

extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount

provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose

vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are

used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help

ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are

used to secure the loan from the FRBB.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with

generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the

statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs

consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in

table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this

table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 30, 2021

Federal Reserve notes outstanding 2,329,429

Less: Notes held by F.R. Banks not subject to collateralization 195,289

Federal Reserve notes to be collateralized 2,134,139

Collateral held against Federal Reserve notes 2,134,139

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,117,903

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,505,369

Less: Face value of securities under reverse repurchase agreements 1,194,020

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,311,349

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.