FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks November 12, 2020

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

Nov 11, 2020 Nov 4, 2020 Nov 13, 2019

Wednesday

Nov 11, 2020

Reserve Bank credit 7,126,366 + 16,123 +3,120,015 7,135,848

Securities held outright1 6,546,849 + 13,498 +2,899,016 6,555,446

U.S. Treasury securities 4,544,140 + 13,459 +2,345,046 4,552,731

Bills2 326,044 0 + 259,177 326,044

Notes and bonds, nominal2 3,878,713 + 12,611 +1,895,517 3,887,266

Notes and bonds, inflation-indexed2 297,163 + 687 + 173,020 297,163

Inflation compensation3 42,220 + 161 + 17,333 42,258

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

Mortgage-backed securities4 2,000,361 + 38 + 553,969 2,000,368

Unamortized premiums on securities held outright5 339,043 + 465 + 212,181 339,262

Unamortized discounts on securities held outright5 -4,669 - 62 + 8,054 -4,660

Repurchase agreements6 1,000 0 - 212,514 1,000

Foreign official 1,000 0 + 1,000 1,000

Others 0 0 - 213,514 0

Loans 68,820 - 1,851 + 68,796 68,178

Primary credit 2,374 - 60 + 2,370 2,317

Secondary credit 0 0 0 0

Seasonal credit 0 - 1 - 21 0

Primary Dealer Credit Facility 263 + 14 + 263 263

Money Market Mutual Fund Liquidity Facility 5,497 - 21 + 5,497 5,496

Paycheck Protection Program Liquidity Facility 60,686 - 1,784 + 60,686 60,102

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,559 - 3 + 8,559 8,559

Net portfolio holdings of Corporate Credit Facilities LLC7 45,672 + 144 + 45,672 45,692

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 42,123 + 648 + 42,123 42,337

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,552 + 1 + 16,552 16,553

Net portfolio holdings of TALF II LLC7 12,266 + 73 + 12,266 12,266

Float -108 + 211 - 5 -133

Central bank liquidity swaps8 8,059 + 854 + 8,018 8,036

Other Federal Reserve assets9 42,199 + 2,143 + 11,297 43,313

Foreign currency denominated assets10 21,776 + 196 + 1,250 21,647

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,439 + 14 + 407 50,439

Total factors supplying reserve funds 7,214,822 + 16,333 +3,121,672 7,224,175

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

Nov 11, 2020 Nov 4, 2020 Nov 13, 2019

Wednesday

Nov 11, 2020

Currency in circulation11 2,054,195 + 7,433 + 267,329 2,058,082

Reverse repurchase agreements12 194,821 - 6,114 - 88,810 195,811

Foreign official and international accounts 194,821 - 6,112 - 87,762 195,811

Others 0 - 2 - 1,048 0

Treasury cash holdings 46 - 3 - 147 52

Deposits with F.R. Banks, other than reserve balances 1,822,945 + 1,585 +1,378,309 1,811,658

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,600,837 - 20,509 +1,218,882 1,570,768

Foreign official 21,267 + 10 + 16,084 21,267

Other13 200,841 + 22,083 + 143,344 219,623

Treasury contributions to credit facilities14 114,000 0 + 114,000 114,000

Other liabilities and capital15 52,644 + 3,998 + 7,135 52,475

Total factors, other than reserve balances,

absorbing reserve funds 4,238,652 + 6,900 +1,677,818 4,232,078

Reserve balances with Federal Reserve Banks 2,976,170 + 9,433 +1,443,854 2,992,098

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 $37.5 billion,

MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money

Market Mutual Fund Liquidity Facility of $1.5 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

Nov 11, 2020 Nov 4, 2020 Nov 13, 2019

Wednesday

Nov 11, 2020

Securities held in custody for foreign official and international

accounts 3,426,654 + 11,115 + 6,224 3,428,700

Marketable U.S. Treasury securities1 2,988,384 + 12,078 + 14,492 2,990,772

Federal agency debt and mortgage-backed securities2 352,705 - 12 - 10,007 352,700

Other securities3 85,566 - 950 + 1,739 85,228

Securities lent to dealers 29,591 + 3,564 + 1,650 31,547

Overnight facility4 29,591 + 3,564 + 1,650 31,547

U.S. Treasury securities 29,591 + 3,564 + 1,650 31,547

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, November 11, 2020

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 1,466 4,881 1,729 60,102 0 ... 68,178

U.S. Treasury securities2

Holdings 71,475 285,323 642,675 1,725,831 812,450 1,014,977 4,552,731

Weekly changes - 21,042 + 13,212 + 9,135 + 11,530 + 46 + 1,763 + 14,644

Federal agency debt securities3

Holdings 0 0 0 0 1,436 911 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 5 2,149 76,223 1,921,990 2,000,368

Weekly changes 0 0 0 0 + 32 + 10 + 44

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 4,880 ... ... 4,880

Municipal notes held by Municipal

Liquidity Facility LLC7 0 0 1,200 451 ... ... 1,651

Loans held by TALF II LLC8 0 0 0 3,675 ... ... 3,675

Repurchase agreements9 1,000 0 ... ... ... ... 1,000

Central bank liquidity swaps10 1,427 6,609 0 0 0 0 8,036

Reverse repurchase agreements9 195,811 0 ... ... ... ... 195,811

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, Money Market Mutual Fund

Liquidity 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 Nov 11, 2020

Mortgage-backed securities held outright1 2,000,368

Residential mortgage-backed securities 1,990,593

Commercial mortgage-backed securities 9,774

Commitments to buy mortgage-backed securities2 199,658

Commitments to sell mortgage-backed securities2 4,000

Cash and cash equivalents3 1

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

2. Current face value. Includes residential and commercial mortgage-backed securities. Residential mortgage-backed securities generally settle within

180 calendar days and include commitments associated with outright transactions, dollar rolls, and coupon swaps. Commercial mortgage-backed

securities generally settle within three business days.

3. This amount is included in other Federal Reserve assets in table 1 and in other assets in table 5 and table 6.

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Nov 11, 2020

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 8,559 8,559

Corporate Credit Facilities LLC 13,426 13,610 32,082 45,692

MS Facilities LLC (Main Street Lending Program) 4,878 4,785 37,553 42,337

Municipal Liquidity Facility LLC 1,651 1,651 14,902 16,553

TALF II LLC 3,753 3,675 8,591 12,266

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, net of an allowance for loan losses updated as of

 September 30, 2020, at face value.

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 initially 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

Nov 11, 2020 Nov 4, 2020 Nov 13, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,477 - 4 - 190

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,959,226 + 13,316 +2,981,493

Securities held outright1 6,555,446 + 14,688 +2,901,482

U.S. Treasury securities 4,552,731 + 14,644 +2,351,202

Bills2 326,044 0 + 257,033

Notes and bonds, nominal2 3,887,266 + 14,534 +1,904,070

Notes and bonds, inflation-indexed2 297,163 0 + 172,791

Inflation compensation3 42,258 + 110 + 17,308

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,000,368 + 44 + 550,279

Unamortized premiums on securities held outright5 339,262 + 99 + 212,408

Unamortized discounts on securities held outright5 -4,660 + 12 + 8,071

Repurchase agreements6 1,000 0 - 208,609

Loans7 68,178 - 1,482 + 68,141

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,559 0 + 8,559

Net portfolio holdings of Corporate Credit Facilities LLC8 45,692 + 29 + 45,692

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 42,337 + 654 + 42,337

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,553 + 1 + 16,553

Net portfolio holdings of TALF II LLC8 12,266 0 + 12,266

Items in process of collection (0) 73 + 20 - 22

Bank premises 2,195 + 5 + 7

Central bank liquidity swaps9 8,036 + 788 + 7,995

Foreign currency denominated assets10 21,647 + 3 + 1,116

Other assets11 41,119 + 3,126 + 11,730

Total assets (0) 7,175,417 + 17,938 +3,127,535

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

Nov 11, 2020 Nov 4, 2020 Nov 13, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,009,168 + 8,034 + 269,466

Reverse repurchase agreements12 195,811 + 2,774 - 86,261

Deposits (0) 4,803,757 + 4,721 +2,823,300

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,992,099 + 12,562 +1,449,435

U.S. Treasury, General Account 1,570,768 - 47,800 +1,200,583

Foreign official 21,267 + 3 + 16,084

Other13 (0) 219,623 + 39,957 + 157,199

Deferred availability cash items (0) 206 + 51 - 39

Treasury contributions to credit facilities14 114,000 0 + 114,000

Other liabilities and accrued dividends15 13,253 + 2,358 + 7,165

Total liabilities (0) 7,136,194 + 17,936 +3,127,631

Capital accounts

Capital paid in 32,398 + 2 - 95

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,223 + 2 - 95

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 $37.5 billion,

MS Facilities LLC of $37.5 billion, Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money

Market Mutual Fund Liquidity Facility of $1.5 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, November 11, 2020

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 16,237 533 5,483 529 761 1,165 2,183 1,137 479 270 450 1,202 2,045

Coin 1,477 26 33 124 83 205 146 250 26 43 99 169 273

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,959,226 161,712 3,579,877 163,560 217,857 435,357 511,333 388,063 110,616 72,636 115,324 334,776 868,116

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,559 0 8,559 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 45,692 0 45,692 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 42,337 42,337 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,553 0 16,553 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 12,266 0 12,266 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 8,036 381 2,701 289 687 1,696 399 312 132 63 85 95 1,196

Foreign currency denominated

assets4 21,647 1,027 7,277 779 1,850 4,568 1,073 841 355 169 228 257 3,223

Other assets5 43,387 2,577 19,720 1,058 1,420 2,977 3,280 2,446 851 562 998 2,228 5,270

Interdistrict settlement account 0 - 38,100 + 281,986 - 23,576 + 78,278 + 105,508 - 115,494 - 22,536 - 21,262 - 13,271 - 21,286 - 42,075 - 168,174

Total assets 7,175,417 170,494 3,980,148 142,762 300,935 551,476 402,920 370,513 91,197 60,472 95,898 296,652 711,950

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, November 11, 2020 (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 2,009,168 62,031 669,373 55,718 93,425 139,966 280,886 130,309 59,225 33,145 54,971 169,335 260,785

Reverse repurchase agreements6 195,811 4,397 101,383 4,467 6,126 12,272 14,431 10,937 3,094 1,851 3,114 9,437 24,303

Deposits 4,803,757 62,797 3,114,508 80,818 197,573 390,104 104,842 227,009 27,862 24,780 37,070 116,624 419,770

Depository institutions 2,992,099 62,777 1,414,152 80,817 197,541 389,339 104,756 118,075 27,854 24,728 37,039 115,372 419,648

U.S. Treasury, General Account 1,570,768 0 1,570,768 0 0 0 0 0 0 0 0 0 0

Foreign official 21,267 2 21,240 1 3 8 2 2 1 0 0 0 6

Other7 219,623 18 108,347 0 29 757 84 108,932 8 52 30 1,251 115

Earnings remittances due to the U.S.

Treasury8 4,667 109 2,452 101 135 240 358 258 80 51 89 226 571

Treasury contributions to credit facilities9 114,000 39,000 75,000 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 8,791 327 4,263 250 295 716 605 469 208 318 234 367 740

Total liabilities 7,136,194 168,661 3,966,978 141,354 297,554 543,298 401,121 368,981 90,469 60,144 95,477 295,988 706,168

Capital

Capital paid in 32,398 1,508 10,876 1,162 2,798 6,737 1,461 1,267 617 275 349 583 4,765

Surplus 6,825 324 2,294 246 583 1,441 338 265 112 53 72 81 1,016

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

Total liabilities and capital 7,175,417 170,494 3,980,148 142,762 300,935 551,476 402,920 370,513 91,197 60,472 95,898 296,652 711,950

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, November 11, 2020 (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, Money Market Mutual Fund Liquidity 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 a $6.825 billion surplus.

9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $37.5 billion, MS Facilities LLC of $37.5 billion, and

Municipal Liquidity Facility LLC of $17.5 billion, and TALF II LLC of $10 billion, and credit protection in the Money Market Mutual Fund Liquidity Facility of $1.5 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 Nov 11, 2020

Federal Reserve notes outstanding 2,160,076

Less: Notes held by F.R. Banks not subject to collateralization 150,909

Federal Reserve notes to be collateralized 2,009,168

Collateral held against Federal Reserve notes 2,009,168

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,992,931

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,556,446

Less: Face value of securities under reverse repurchase agreements 187,144

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,369,302

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.