FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 24, 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 23, 2021 Jun 16, 2021 Jun 24, 2020

Wednesday

Jun 23, 2021

Reserve Bank credit 8,051,022 + 86,299 +1,041,358 8,062,918

Securities held outright1 7,509,628 + 84,264 +1,394,498 7,519,947

U.S. Treasury securities 5,158,071 + 16,222 + 974,703 5,163,445

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,430,859 + 14,002 + 874,145 4,433,973

Notes and bonds, inflation-indexed2 347,544 + 1,315 + 82,992 349,258

Inflation compensation3 53,624 + 905 + 17,566 54,170

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

Mortgage-backed securities4 2,349,210 + 68,042 + 419,795 2,354,155

Unamortized premiums on securities held outright5 352,028 + 1,512 + 39,845 352,226

Unamortized discounts on securities held outright5 -13,987 - 40 - 8,647 -14,101

Repurchase agreements6 0 0 - 73,129 0

Foreign official 0 0 0 0

Others 0 0 - 73,129 0

Loans 86,597 - 1,246 - 7,361 87,605

Primary credit 596 + 86 - 6,527 461

Secondary credit 0 0 0 0

Seasonal credit 11 + 2 - 1 14

Primary Dealer Credit Facility 0 0 - 3,980 0

Money Market Mutual Fund Liquidity Facility 0 0 - 23,468 0

Paycheck Protection Program Liquidity Facility 85,989 - 1,335 + 26,615 87,129

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,554 0 - 4,243 8,554

Net portfolio holdings of Corporate Credit Facilities LLC7 25,847 - 7 - 14,109 25,863

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,530 - 31 - 2,150 30,538

Net portfolio holdings of Municipal Liquidity Facility LLC7 10,736 + 2 - 5,343 10,738

Net portfolio holdings of TALF II LLC7 4,762 0 - 2,524 4,762

Float -113 + 12 + 70 -171

Central bank liquidity swaps8 475 - 25 - 276,222 483

Other Federal Reserve assets9 35,965 + 1,858 + 671 36,474

Foreign currency denominated assets10 21,313 - 283 + 393 21,331

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,698 + 14 + 449 50,698

Total factors supplying reserve funds 8,139,273 + 86,030 +1,042,198 8,151,188

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 23, 2021 Jun 16, 2021 Jun 24, 2020

Wednesday

Jun 23, 2021

Currency in circulation11 2,178,457 - 150 + 217,299 2,179,557

Reverse repurchase agreements12 1,012,189 + 250,908 + 788,424 1,055,931

Foreign official and international accounts 245,395 + 25,937 + 21,634 242,281

Others 766,794 + 224,971 + 766,790 813,650

Treasury cash holdings 43 0 - 37 42

Deposits with F.R. Banks, other than reserve balances 1,040,050 - 28,601 - 791,115 1,051,325

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 734,689 + 80,800 - 889,253 733,877

Foreign official 5,701 - 21,459 - 10,526 6,769

Other13 299,661 - 87,941 + 108,664 310,679

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

Other liabilities and capital15 50,214 - 4,131 + 2,064 48,342

Total factors, other than reserve balances,

absorbing reserve funds 4,331,231 + 218,026 + 152,913 4,385,475

Reserve balances with Federal Reserve Banks 3,808,042 - 131,996 + 889,286 3,765,713

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 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 23, 2021 Jun 16, 2021 Jun 24, 2020

Wednesday

Jun 23, 2021

Securities held in custody for foreign official and international

accounts 3,540,219 + 1,774 + 110,339 3,539,524

Marketable U.S. Treasury securities1 3,099,023 + 522 + 130,140 3,095,984

Federal agency debt and mortgage-backed securities2 352,180 + 1,631 - 23,705 354,240

Other securities3 89,017 - 378 + 3,904 89,301

Securities lent to dealers 40,923 + 4,540 + 11,724 42,750

Overnight facility4 40,923 + 4,540 + 11,724 42,750

U.S. Treasury securities 40,923 + 4,540 + 11,724 42,750

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 23, 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 143 333 16,055 71,075 0 ... 87,605

U.S. Treasury securities2

Holdings 80,188 299,927 647,609 1,983,709 947,593 1,204,418 5,163,445

Weekly changes + 816 + 7,818 - 8,574 + 1,669 + 4,344 + 3,599 + 9,674

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 1,840 66,486 2,285,814 2,354,155

Weekly changes 0 0 0 + 3 + 14 + 26,014 + 26,031

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 16,263 ... ... 16,263

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 0 4,982 ... ... 4,982

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

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

Central bank liquidity swaps10 135 348 0 0 0 0 483

Reverse repurchase agreements9 1,055,931 0 ... ... ... ... 1,055,931

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 23, 2021

Mortgage-backed securities held outright1 2,354,155

Residential mortgage-backed securities 2,344,383

Commercial mortgage-backed securities 9,772

Commitments to buy mortgage-backed securities2 143,146

Commitments to sell mortgage-backed securities2 84

Cash and cash equivalents3 119

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 23, 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 11,573 14,290 25,863

MS Facilities LLC (Main Street Lending Program) 16,228 13,605 16,932 30,538

Municipal Liquidity Facility LLC 5,358 4,982 5,756 10,738

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 23, 2021 Jun 16, 2021 Jun 24, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,236 - 2 - 219

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,945,677 + 36,643 +1,328,387

Securities held outright1 7,519,947 + 35,705 +1,376,754

U.S. Treasury securities 5,163,445 + 9,674 + 966,041

Bills2 326,044 0 0

Notes and bonds, nominal2 4,433,973 + 6,601 + 863,049

Notes and bonds, inflation-indexed2 349,258 + 1,999 + 84,706

Inflation compensation3 54,170 + 1,074 + 18,286

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,354,155 + 26,031 + 410,714

Unamortized premiums on securities held outright5 352,226 + 678 + 38,372

Unamortized discounts on securities held outright5 -14,101 - 160 - 8,782

Repurchase agreements6 0 0 - 70,201

Loans7 87,605 + 420 - 7,755

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,554 0 - 4,244

Net portfolio holdings of Corporate Credit Facilities LLC8 25,863 + 19 - 14,754

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,538 + 9 - 6,964

Net portfolio holdings of Municipal Liquidity Facility LLC8 10,738 + 2 - 5,342

Net portfolio holdings of TALF II LLC8 4,762 0 - 3,738

Items in process of collection (0) 52 - 11 - 21

Bank premises 1,917 0 - 285

Central bank liquidity swaps9 483 - 17 - 274,480

Foreign currency denominated assets10 21,331 - 258 + 373

Other assets11 34,558 + 1,306 + 930

Total assets (0) 8,101,945 + 37,688 +1,019,643

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 23, 2021 Jun 16, 2021 Jun 24, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,130,133 + 588 + 215,026

Reverse repurchase agreements12 1,055,931 + 312,171 + 835,569

Deposits (0) 4,817,038 - 272,740 + 31,001

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,765,714 - 140,022 + 828,057

U.S. Treasury, General Account 733,877 - 31,237 - 852,696

Foreign official 6,769 - 20,186 - 9,453

Other13 (0) 310,679 - 81,293 + 65,093

Deferred availability cash items (0) 223 + 65 - 62

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

Other liabilities and accrued dividends15 8,738 - 2,397 + 1,139

Total liabilities (0) 8,062,341 + 37,687 +1,018,950

Capital accounts

Capital paid in 32,819 + 1 + 733

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,604 + 1 + 693

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 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 23, 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 1,236 18 26 110 53 179 113 229 15 33 86 143 230

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,945,677 131,493 4,453,574 170,572 301,205 528,380 461,428 429,729 103,592 85,930 106,577 348,613 824,584

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 25,863 0 25,863 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,538 30,538 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 10,738 0 10,738 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 483 22 162 17 42 101 22 19 9 4 5 9 71

Foreign currency denominated

assets4 21,331 968 7,170 766 1,844 4,439 965 836 406 181 231 384 3,141

Other assets5 36,527 694 19,095 866 1,374 2,709 2,237 2,014 752 440 789 1,853 3,703

Interdistrict settlement account 0 + 23,461 - 257,734 + 30,734 + 556 - 19,791 + 38,533 + 85,147 + 11,645 - 12,720 + 9,885 + 18,942 + 71,342

Total assets 8,101,945 187,725 4,277,633 203,588 305,827 517,203 505,486 519,109 116,893 74,141 118,028 371,164 905,147

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 23, 2021 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes, net 2,130,133 64,258 698,373 63,317 104,395 156,875 299,646 127,068 57,851 32,337 53,415 191,813 280,785

Reverse repurchase agreements6 1,055,931 17,646 596,871 22,302 38,421 70,756 61,869 57,622 13,767 8,170 14,022 46,695 107,790

Deposits 4,817,038 89,447 2,930,159 116,139 159,071 280,455 141,431 332,175 44,284 33,000 49,874 131,294 509,710

Depository institutions 3,765,714 89,430 2,052,556 116,138 159,030 280,005 141,299 161,326 44,272 32,690 48,472 130,815 509,682

U.S. Treasury, General Account 733,877 0 733,877 0 0 0 0 0 0 0 0 0 0

Foreign official 6,769 2 6,742 1 3 8 2 2 1 0 0 1 6

Other7 310,679 16 136,983 0 38 442 130 170,847 11 309 1,402 478 22

Earnings remittances due to the U.S.

Treasury8 2,051 21 1,252 35 60 98 125 110 23 13 24 97 193

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 6,910 -1,998 4,006 294 372 852 621 593 226 395 257 435 855

Total liabilities 8,062,341 185,945 4,264,367 202,088 302,319 509,035 503,693 517,568 116,151 73,916 117,593 370,333 899,332

Capital

Capital paid in 32,819 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 8,101,945 187,725 4,277,633 203,588 305,827 517,203 505,486 519,109 116,893 74,141 118,028 371,164 905,147

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 23, 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; 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 23, 2021

Federal Reserve notes outstanding 2,323,845

Less: Notes held by F.R. Banks not subject to collateralization 193,712

Federal Reserve notes to be collateralized 2,130,133

Collateral held against Federal Reserve notes 2,130,133

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,113,896

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,519,947

Less: Face value of securities under reverse repurchase agreements 995,660

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,524,286

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.