FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and 

Condition Statement of Federal Reserve Banks November 12, 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

Nov 10, 2021 Nov 3, 2021 Nov 11, 2020

Wednesday

Nov 10, 2021

Reserve Bank credit 8,558,458 + 27,716 +1,432,092 8,624,783

Securities held outright1 8,083,631 + 26,444 +1,536,782 8,148,320

U.S. Treasury securities 5,544,097 + 17,078 + 999,957 5,552,607

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,778,290 + 14,514 + 899,577 4,785,576

Notes and bonds, inflation-indexed2 373,014 + 1,886 + 75,851 374,042

Inflation compensation3 66,748 + 676 + 24,528 66,945

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

Mortgage-backed securities4 2,537,187 + 9,366 + 536,826 2,593,366

Unamortized premiums on securities held outright5 354,865 + 409 + 15,822 355,808

Unamortized discounts on securities held outright5 -16,723 - 239 - 12,054 -16,767

Repurchase agreements6 0 0 - 1,000 0

Foreign official 0 0 - 1,000 0

Others 0 0 0 0

Loans 47,760 - 1,339 - 21,060 46,930

Primary credit 338 + 8 - 2,036 449

Secondary credit 0 0 0 0

Seasonal credit 10 0 + 10 10

Primary Dealer Credit Facility 0 0 - 263 0

Money Market Mutual Fund Liquidity Facility 0 0 - 5,497 0

Paycheck Protection Program Liquidity Facility 47,412 - 1,347 - 13,274 46,471

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC7 0 0 - 8,559 0

Net portfolio holdings of Corporate Credit Facilities LLC7 515 0 - 45,157 515

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)7 30,509 + 7 - 11,614 30,516

Net portfolio holdings of Municipal Liquidity Facility LLC7 9,784 + 1 - 6,768 9,785

Net portfolio holdings of TALF II LLC7 4,490 - 1 - 7,776 4,491

Float -124 + 301 - 16 -199

Central bank liquidity swaps8 328 - 4 - 7,731 328

Other Federal Reserve assets9 43,424 + 2,137 + 1,225 45,055

Foreign currency denominated assets10 20,701 - 13 - 1,075 20,622

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,852 + 14 + 436 50,852

Total factors supplying reserve funds 8,646,252 + 27,717 +1,431,453 8,712,498

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 10, 2021 Nov 3, 2021 Nov 11, 2020

Wednesday

Nov 10, 2021

Currency in circulation11 2,209,986 + 4,152 + 155,814 2,213,872

Reverse repurchase agreements12 1,675,321 - 44,389 +1,480,500 1,752,977

Foreign official and international accounts 305,190 + 3,206 + 110,369 304,354

Others 1,370,131 - 47,594 +1,370,131 1,448,623

Treasury cash holdings 50 - 2 + 4 62

Deposits with F.R. Banks, other than reserve balances 513,573 - 18,121 -1,309,372 484,104

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 259,293 - 20,912 -1,341,544 231,421

Foreign official 5,618 + 152 - 15,649 6,592

Other13 248,662 + 2,639 + 47,821 246,091

Treasury contributions to credit facilities14 26,397 0 - 87,603 26,397

Other liabilities and capital15 51,884 + 3,373 - 760 56,500

Total factors, other than reserve balances, 

absorbing reserve funds 4,477,211 - 54,988 + 238,582 4,533,912

Reserve balances with Federal Reserve Banks 4,169,041 + 82,705 +1,192,871 4,178,586

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

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

2. Face value of the securities.

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

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

the securities.

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

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

basis.

6. Cash value of agreements.

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

consolidation below.

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

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

foreign central bank.

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

10. Revalued daily at current foreign currency exchange rates.

11. Estimated.

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

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

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

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

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $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

Nov 10, 2021 Nov 3, 2021 Nov 11, 2020

Wednesday

Nov 10, 2021

Securities held in custody for foreign official and international 

accounts 3,480,009 - 1,174 + 53,355 3,461,618

Marketable U.S. Treasury securities1 3,068,472 - 3,111 + 80,088 3,049,956

Federal agency debt and mortgage-backed securities2 328,564 + 37 - 24,141 328,666

Other securities3 82,973 + 1,901 - 2,593 82,996

Securities lent to dealers 36,863 - 2,884 + 7,272 39,368

Overnight facility4 36,863 - 2,884 + 7,272 39,368

U.S. Treasury securities 36,863 - 2,884 + 7,272 39,368

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 10, 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 245 214 2,512 43,959 0 ... 46,930

U.S. Treasury securities2

Holdings 110,097 285,678 707,348 2,131,956 1,005,551 1,311,978 5,552,607

Weekly changes - 17,095 + 11,952 + 5,168 + 10,888 + 4,178 + 4,298 + 19,388

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 27 1,677 62,980 2,528,681 2,593,366

Weekly changes 0 0 0 0 - 1 + 65,543 + 65,542

Loan participations held by MS 

Facilities LLC (Main Street Lending 

Program)5 0 0 0 15,835 ... ... 15,835

Municipal notes held by Municipal 

Liquidity Facility LLC6 0 0 0 4,373 ... ... 4,373

Loans held by TALF II LLC7 0 0 0 1,368 ... ... 1,368

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

Central bank liquidity swaps9 328 0 0 0 0 0 328

Reverse repurchase agreements8 1,752,977 0 ... ... ... ... 1,752,977

Term deposits 0 0 0 ... ... ... 0

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

...Not applicable.

1. Loans includes primary, secondary, and seasonal loans and credit extended through the Paycheck Protection Program Liquidity Facility and other 

credit extensions. Loans exclude the loans from the Federal Reserve Bank of New York (FRBNY) to Municipal Liquidity Facility LLC and TALF II 

LLC, and from the Federal Reserve Bank of Boston (FRBB) to MS Facilities LLC, which were eliminated when preparing the FRBNY's and FRBB's 

statement of condition, respectively, consistent with consolidation under generally accepted accounting principles.

2. Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original 

face value of such securities.

3. Face value.

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

5. Book value of the loan participations held by the MS Facilities LLC.

6. Book value of the municipal notes held by the Municipal Liquidity Facility LLC. 

7. Book value of the loans held by the TALF II LLC. 

8. Cash value of agreements.

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

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

central bank.
H.4.1

3. Supplemental Information on Mortgage-Backed Securities

Millions of dollars

Wednesday Account name Nov 10, 2021

Mortgage-backed securities held outright1 2,593,366

Residential mortgage-backed securities 2,583,975

Commercial mortgage-backed securities 9,392

Commitments to buy mortgage-backed securities2 85,748

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 0

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

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

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

securities generally settle within three business days.

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

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Nov 10, 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

Corporate Credit Facilities LLC 0 0 515 515

MS Facilities LLC (Main Street Lending Program) 15,736 13,505 17,012 30,516

Municipal Liquidity Facility LLC 4,373 4,373 5,412 9,785

TALF II LLC 1,456 1,368 3,123 4,491

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 Corporate Credit Facilities LLC includes exchange traded-funds and corporate bonds at fair value. 

b. 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 September 30, 2021.

c. 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.

d. For the TALF II LLC includes loans to holders of eligible asset-backed securities at book value.

3. Includes short term receivables, interest and dividend receivables, and other assets of the facility. Also includes the portion of the Treasury 

contribution to the credit facilities, which is held as investments in nonmarketable Treasury securities and the residual portion which is held as cash 

and cash equivalents at the FRBNY. The amount of cash and cash equivalents held at the FRBNY are eliminated in consolidation and, as result, are 

excluded from net portfolio holdings in Tables 1, 5, and 6. Amounts excluded are approximately 15% of Treasury contributions to the Municipal 

Liquidity Facility LLC and TALF II LLC. Refer to the note on consolidation accompanying table 6.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from 

consolidation

Wednesday

Nov 10, 2021 Nov 3, 2021 Nov 11, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,204 + 2 - 273

Securities, unamortized premiums and discounts, 

repurchase agreements, and loans 8,534,292 + 84,534 +1,575,066

Securities held outright1 8,148,320 + 84,930 +1,592,874

U.S. Treasury securities 5,552,607 + 19,388 + 999,876

Bills2 326,044 0 0

Notes and bonds, nominal2 4,785,576 + 17,800 + 898,310

Notes and bonds, inflation-indexed2 374,042 + 1,199 + 76,879

Inflation compensation3 66,945 + 388 + 24,687

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,593,366 + 65,542 + 592,998

Unamortized premiums on securities held outright5 355,808 + 1,107 + 16,546

Unamortized discounts on securities held outright5 -16,767 - 117 - 12,107

Repurchase agreements6 0 0 - 1,000

Loans7 46,930 - 1,387 - 21,248

Net portfolio holdings of Commercial Paper Funding 

Facility II LLC8 0 0 - 8,559

Net portfolio holdings of Corporate Credit Facilities LLC8 515 0 - 45,177

Net portfolio holdings of MS Facilities LLC (Main Street 

Lending Program)8 30,516 + 9 - 11,821

Net portfolio holdings of Municipal Liquidity Facility LLC8 9,785 + 2 - 6,768

Net portfolio holdings of TALF II LLC8 4,491 + 1 - 7,775

Items in process of collection (0) 72 + 1 - 1

Bank premises 1,455 + 6 - 740

Central bank liquidity swaps9 328 - 4 - 7,708

Foreign currency denominated assets10 20,622 - 62 - 1,025

Other assets11 43,599 + 3,756 + 2,480

Total assets (0) 8,663,117 + 88,246 +1,487,700

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 10, 2021 Nov 3, 2021 Nov 11, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,164,281 + 6,192 + 155,113

Reverse repurchase agreements12 1,752,977 + 95,911 +1,557,166

Deposits (0) 4,662,690 - 21,373 - 141,067

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 4,178,586 + 28,756 +1,186,487

U.S. Treasury, General Account 231,421 - 55,538 -1,339,347

Foreign official 6,592 + 945 - 14,675

Other13 (0) 246,091 + 4,464 + 26,468

Deferred availability cash items (0) 271 + 83 + 65

Treasury contributions to credit facilities14 26,397 0 - 87,603

Other liabilities and accrued dividends15 16,592 + 7,392 + 3,339

Total liabilities (0) 8,623,208 + 88,203 +1,487,014

Capital accounts

Capital paid in 33,123 + 42 + 725

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,908 + 42 + 685

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

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

2. Face value of the securities.

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

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

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

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

basis.

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

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

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

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

consolidation below.

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

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

central bank.

10. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

as fiscal agents of the United States.

14. Book value. Amount of equity investments in MS Facilities LLC of $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, November 10, 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 1,204 15 18 115 46 177 104 227 17 32 86 149 218

Securities, unamortized premiums and 

discounts, repurchase agreements, 

and loans1 8,534,292 141,862 4,803,806 179,533 318,117 569,389 497,626 463,480 111,172 81,345 113,286 375,728 878,947

Net portfolio holdings of Corporate 

Credit Facilities LLC2 515 0 515 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,516 30,516 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal 

Liquidity Facility LLC2 9,785 0 9,785 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,491 0 4,491 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 328 15 110 12 28 68 15 13 6 3 4 6 48

Foreign currency denominated 

assets4 20,622 936 6,932 740 1,783 4,291 933 808 392 175 223 372 3,037

Other assets5 45,127 848 24,044 1,051 1,710 3,305 2,765 2,489 750 553 915 2,097 4,599

Interdistrict settlement account 0 + 25,709 - 437,346 + 7,920 + 47,648 - 5,609 + 71,571 + 107,945 + 26,934 + 384 + 19,076 + 61,065 + 74,703

Total assets 8,663,117 200,432 4,417,777 189,894 370,085 572,809 575,201 576,098 139,746 82,765 134,046 440,637 963,627

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 10, 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 2,164,281 71,092 691,179 61,504 103,924 153,669 319,669 120,850 64,600 32,970 55,027 193,875 295,921

Reverse repurchase agreements6 1,752,977 29,294 990,881 37,024 63,784 117,464 102,711 95,660 22,854 13,564 23,278 77,519 178,944

Deposits 4,662,690 83,175 2,701,725 89,456 197,890 292,070 150,212 357,136 51,210 35,760 54,993 167,609 481,453

Depository institutions 4,178,586 83,160 2,415,283 89,454 197,844 291,501 150,079 162,599 51,200 35,455 54,097 166,522 481,390

U.S. Treasury, General Account 231,421 0 231,421 0 0 0 0 0 0 0 0 0 0

Foreign official 6,592 2 6,565 1 3 8 2 2 1 0 0 1 6

Other7 246,091 13 48,455 0 43 561 131 194,536 8 304 896 1,087 57

Earnings remittances due to the U.S. 

Treasury8 2,759 22 1,702 52 95 112 167 148 14 14 26 126 284

Treasury contributions to credit facilities9 26,397 16,572 9,825 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued 

dividends 14,104 -1,489 9,123 358 495 1,290 1,030 754 266 229 300 571 1,177

Total liabilities 8,623,208 198,665 4,404,434 188,394 366,188 564,604 573,789 574,548 138,944 82,537 133,624 439,701 957,779

Capital

Capital paid in 33,123 1,459 11,062 1,256 3,309 6,793 1,105 1,283 673 170 348 813 4,849

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 8,663,117 200,432 4,417,777 189,894 370,085 572,809 575,201 576,098 139,746 82,765 134,046 440,637 963,627

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

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

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

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

4. Revalued daily at current foreign currency exchange rates.

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

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

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

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

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

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

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

9. Book value. Amount of equity investments in MS Facilities LLC of $16.6 billion, 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 Nov 10, 2021

Federal Reserve notes outstanding 2,415,417

Less: Notes held by F.R. Banks not subject to collateralization 251,136

Federal Reserve notes to be collateralized 2,164,281

Collateral held against Federal Reserve notes 2,164,281

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,148,044

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 8,148,320

Less: Face value of securities under reverse repurchase agreements 1,695,498

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,452,822

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.