FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 17, 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 16, 2021 Jun 9, 2021 Jun 17, 2020

Wednesday

Jun 16, 2021

Reserve Bank credit 7,964,723 + 59,338 + 879,556 8,025,033

Securities held outright1 7,425,364 + 54,198 +1,346,739 7,484,242

U.S. Treasury securities 5,141,849 + 17,300 + 978,579 5,153,771

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,416,857 + 14,404 + 878,632 4,427,372

Notes and bonds, inflation-indexed2 346,229 + 1,886 + 83,535 347,259

Inflation compensation3 52,719 + 1,009 + 16,412 53,096

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

Mortgage-backed securities4 2,281,168 + 36,898 + 368,160 2,328,124

Unamortized premiums on securities held outright5 350,516 + 1,132 + 40,163 351,548

Unamortized discounts on securities held outright5 -13,947 - 207 - 8,539 -13,941

Repurchase agreements6 0 0 - 120,429 0

Foreign official 0 0 0 0

Others 0 0 - 120,429 0

Loans 87,843 + 1,334 - 8,559 87,185

Primary credit 510 + 24 - 7,429 584

Secondary credit 0 0 0 0

Seasonal credit 9 0 - 3 9

Primary Dealer Credit Facility 0 0 - 5,621 0

Money Market Mutual Fund Liquidity Facility 0 0 - 25,604 0

Paycheck Protection Program Liquidity Facility 87,324 + 1,310 + 30,098 86,591

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,554 0 - 4,242 8,554

Net portfolio holdings of Corporate Credit Facilities LLC7 25,854 - 52 - 12,256 25,844

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,561 - 8 - 1,314 30,529

Net portfolio holdings of Municipal Liquidity Facility LLC7 10,734 - 83 - 5,344 10,736

Net portfolio holdings of TALF II LLC7 4,762 + 1 + 4,762 4,762

Float -125 - 16 + 104 -95

Central bank liquidity swaps8 500 - 16 - 352,084 500

Other Federal Reserve assets9 34,107 + 3,056 + 554 35,168

Foreign currency denominated assets10 21,596 - 78 + 673 21,589

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,684 + 14 + 442 50,684

Total factors supplying reserve funds 8,053,243 + 59,273 + 880,670 8,113,547

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 16, 2021 Jun 9, 2021 Jun 17, 2020

Wednesday

Jun 16, 2021

Currency in circulation11 2,178,607 - 1,485 + 221,811 2,178,952

Reverse repurchase agreements12 761,281 + 50,771 + 528,316 743,760

Foreign official and international accounts 219,458 - 3,112 - 12,882 222,818

Others 541,823 + 53,883 + 541,197 520,942

Treasury cash holdings 43 + 5 - 70 43

Deposits with F.R. Banks, other than reserve balances 1,068,651 - 58,119 - 677,825 1,184,041

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 653,889 - 76,346 - 906,961 765,114

Foreign official 27,160 - 228 + 10,910 26,955

Other13 387,602 + 18,455 + 218,226 391,972

Treasury contributions to credit facilities14 50,278 0 - 56,579 50,278

Other liabilities and capital15 54,345 + 2,435 + 3,470 50,738

Total factors, other than reserve balances,

absorbing reserve funds 4,113,205 - 6,394 + 19,123 4,207,812

Reserve balances with Federal Reserve Banks 3,940,038 + 65,667 + 861,547 3,905,735

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 16, 2021 Jun 9, 2021 Jun 17, 2020

Wednesday

Jun 16, 2021

Securities held in custody for foreign official and international

accounts 3,538,445 - 9,181 + 119,125 3,536,840

Marketable U.S. Treasury securities1 3,098,501 - 9,394 + 141,768 3,098,053

Federal agency debt and mortgage-backed securities2 350,549 - 59 - 27,024 350,305

Other securities3 89,395 + 272 + 4,381 88,483

Securities lent to dealers 36,383 + 179 + 2,722 31,333

Overnight facility4 36,383 + 179 + 2,722 31,333

U.S. Treasury securities 36,383 + 179 + 2,722 31,333

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 16, 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 359 234 18,430 68,159 2 ... 87,185

U.S. Treasury securities2

Holdings 79,372 292,109 656,183 1,982,040 943,249 1,200,819 5,153,771

Weekly changes + 28,641 - 35,701 + 12,192 + 3,392 + 9,315 + 6,042 + 23,880

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 1,837 66,472 2,259,800 2,328,124

Weekly changes 0 0 0 - 10 - 937 + 84,801 + 83,854

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 16,292 ... ... 16,292

Municipal notes held by Municipal

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

Loans held by TALF II LLC8 0 0 0 1,628 ... ... 1,628

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

Central bank liquidity swaps10 147 353 0 0 0 0 500

Reverse repurchase agreements9 743,760 0 ... ... ... ... 743,760

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 16, 2021

Mortgage-backed securities held outright1 2,328,124

Residential mortgage-backed securities 2,318,352

Commercial mortgage-backed securities 9,772

Commitments to buy mortgage-backed securities2 162,989

Commitments to sell mortgage-backed securities2 5

Cash and cash equivalents3 924

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 16, 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 12,765 13,079 25,844

MS Facilities LLC (Main Street Lending Program) 16,228 13,634 16,895 30,529

Municipal Liquidity Facility LLC 5,358 5,358 5,378 10,736

TALF II LLC 1,733 1,628 3,134 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 16, 2021 Jun 9, 2021 Jun 17, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,238 - 5 - 193

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,909,034 + 109,129 +1,338,862

Securities held outright1 7,484,242 + 107,734 +1,393,814

U.S. Treasury securities 5,153,771 + 23,880 + 984,431

Bills2 326,044 0 0

Notes and bonds, nominal2 4,427,372 + 21,804 + 884,983

Notes and bonds, inflation-indexed2 347,259 + 1,201 + 82,707

Inflation compensation3 53,096 + 875 + 16,740

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,328,124 + 83,854 + 409,383

Unamortized premiums on securities held outright5 351,548 + 1,868 + 40,522

Unamortized discounts on securities held outright5 -13,941 - 78 - 8,575

Repurchase agreements6 0 0 - 79,053

Loans7 87,185 - 395 - 7,846

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,554 0 - 4,243

Net portfolio holdings of Corporate Credit Facilities LLC8 25,844 - 12 - 13,072

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,529 - 47 - 1,347

Net portfolio holdings of Municipal Liquidity Facility LLC8 10,736 + 2 - 5,343

Net portfolio holdings of TALF II LLC8 4,762 0 + 4,762

Items in process of collection (0) 63 + 13 + 12

Bank premises 1,917 - 1 - 285

Central bank liquidity swaps9 500 - 16 - 351,970

Foreign currency denominated assets10 21,589 - 93 + 723

Other assets11 33,252 + 2,957 + 1,658

Total assets (0) 8,064,257 + 111,930 + 969,567

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 16, 2021 Jun 9, 2021 Jun 17, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,129,545 - 1,233 + 218,659

Reverse repurchase agreements12 743,760 + 22,824 + 518,298

Deposits (0) 5,089,778 + 91,158 + 294,148

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,905,736 - 10,989 + 836,297

U.S. Treasury, General Account 765,114 + 91,559 - 800,192

Foreign official 26,955 - 538 + 10,708

Other13 (0) 391,972 + 11,124 + 247,335

Deferred availability cash items (0) 158 - 24 - 110

Treasury contributions to credit facilities14 50,278 0 - 63,722

Other liabilities and accrued dividends15 11,135 - 885 + 1,604

Total liabilities (0) 8,024,654 + 111,839 + 968,878

Capital accounts

Capital paid in 32,818 + 91 + 728

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,603 + 91 + 688

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 16, 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 1,238 18 28 109 56 178 112 229 15 34 86 145 229

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,909,034 130,887 4,432,926 169,834 299,088 526,445 459,418 427,821 103,175 84,368 107,093 347,005 820,975

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 25,844 0 25,844 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,529 30,529 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 10,736 0 10,736 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 500 23 168 18 43 104 23 20 10 4 5 9 74

Foreign currency denominated

assets4 21,589 980 7,257 775 1,867 4,493 976 846 410 184 234 389 3,179

Other assets5 35,232 673 18,380 839 1,327 2,623 2,173 1,942 734 424 774 1,770 3,574

Interdistrict settlement account 0 + 7,636 - 212,378 + 29,959 + 15 - 23,136 + 31,263 + 72,657 + 10,723 - 12,488 + 8,147 + 23,278 + 64,324

Total assets 8,064,257 171,276 4,301,700 202,057 303,147 511,893 496,153 504,651 115,541 72,798 116,793 373,815 894,431

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 16, 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 2,129,545 62,938 697,964 63,420 104,362 157,081 300,173 127,419 58,194 32,348 53,449 191,379 280,819

Reverse repurchase agreements6 743,760 12,429 420,415 15,709 27,063 49,838 43,579 40,587 9,697 5,755 9,877 32,890 75,923

Deposits 5,089,778 79,508 3,129,460 121,058 167,710 295,744 149,764 334,307 46,636 34,115 52,728 148,109 530,639

Depository institutions 3,905,736 79,491 2,123,723 121,057 167,349 294,907 149,646 161,858 46,626 33,424 50,150 146,894 530,612

U.S. Treasury, General Account 765,114 0 765,114 0 0 0 0 0 0 0 0 0 0

Foreign official 26,955 2 26,929 1 3 8 2 2 1 0 0 1 6

Other7 391,972 16 213,695 0 357 828 116 172,447 9 691 2,577 1,215 21

Earnings remittances due to the U.S.

Treasury8 2,707 40 1,583 54 94 146 165 145 33 19 33 122 272

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 8,586 -1,991 5,305 315 411 917 679 652 240 337 273 483 964

Total liabilities 8,024,654 169,496 4,288,434 200,557 299,640 503,725 494,360 503,110 114,799 72,573 116,359 372,984 888,617

Capital

Capital paid in 32,818 1,472 10,986 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 8,064,257 171,276 4,301,700 202,057 303,147 511,893 496,153 504,651 115,541 72,798 116,793 373,815 894,431

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 16, 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 16, 2021

Federal Reserve notes outstanding 2,317,807

Less: Notes held by F.R. Banks not subject to collateralization 188,262

Federal Reserve notes to be collateralized 2,129,545

Collateral held against Federal Reserve notes 2,129,545

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,113,308

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,484,242

Less: Face value of securities under reverse repurchase agreements 712,150

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,772,093

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.