FEDERAL RESERVE statistical release

For Release at

4:30 P.M. Eastern time

July 16, 2020

The Board's H.4.1 statistical release, “Factors Affecting Reserve Balances of Depository

Institutions and Condition Statement of Federal Reserve Banks,” has been modified to include

information related to MS Facilities LLC (Main Street Lending Program). The program was

introduced on the H.4.1 cover note on June 4, 2020

https://www.federalreserve.gov/releases/h41/20200604/. On July 6, 2020, the Main Street

Lending Program announced it was operationally ready to purchase participations in loans

originated by eligible lenders to facilitate lending support to small and medium-sized businesses,

and on July 15, 2020, the Main Street Lending Program began purchasing participations in loans

in accordance with the program. The Federal Reserve Bank of Boston extended credit to the MS

Facilities LLC under the authority of section 13(3) of the Federal Reserve Act, with approval of

the Board and Treasury Secretary.
FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks July 16, 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

Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Wednesday

Jul 15, 2020

Reserve Bank credit 6,881,203 - 34,082 +3,107,744 6,919,469

Securities held outright1 6,167,191 + 32,717 +2,539,705 6,203,965

U.S. Treasury securities 4,240,828 + 20,101 +2,145,994 4,253,229

Bills2 326,044 0 + 326,042 326,044

Notes and bonds, nominal2 3,608,352 + 19,707 +1,653,467 3,625,089

Notes and bonds, inflation-indexed2 270,593 + 387 + 154,303 266,914

Inflation compensation3 35,839 + 7 + 12,182 35,182

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

Mortgage-backed securities4 1,924,016 + 12,615 + 393,711 1,948,388

Unamortized premiums on securities held outright5 316,487 + 1,835 + 186,086 317,957

Unamortized discounts on securities held outright5 -5,272 + 46 + 7,554 -5,280

Repurchase agreements6 0 - 41,286 0 2

Foreign official 0 - 143 0 2

Others 0 - 41,143 0 0

Loans 93,358 - 1,936 + 93,243 93,404

Primary credit 4,791 - 528 + 4,783 5,058

Secondary credit 0 0 0 0

Seasonal credit 22 + 3 - 85 24

Primary Dealer Credit Facility 1,828 - 448 + 1,828 1,699

Money Market Mutual Fund Liquidity Facility 18,704 - 920 + 18,704 18,635

Paycheck Protection Program Liquidity Facility 68,013 - 44 + 68,013 67,989

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 12,334 - 466 + 12,334 10,659

Net portfolio holdings of Corporate Credit Facilities LLC7 43,053 + 740 + 43,053 43,423

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 37,505 + 3 + 37,505 37,515

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,082 + 1 + 16,082 16,084

Net portfolio holdings of TALF II LLC7 8,851 + 98 + 8,851 9,439

Float -246 - 38 - 49 -228

Central bank liquidity swaps8 153,494 - 28,583 + 153,456 154,850

Other Federal Reserve assets9 38,367 + 2,789 + 9,926 37,680

Foreign currency denominated assets10 21,024 + 121 + 158 21,094

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,429 + 14 + 486 50,429

Total factors supplying reserve funds 6,968,898 - 33,946 +3,108,389 7,007,233

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

Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Wednesday

Jul 15, 2020

Currency in circulation11 1,978,666 + 3,825 + 231,322 1,981,644

Reverse repurchase agreements12 221,442 - 6,673 - 58,437 224,229

Foreign official and international accounts 221,441 - 6,673 - 54,020 224,228

Others 0 - 1 - 4,418 1

Treasury cash holdings 50 - 11 - 111 45

Deposits with F.R. Banks, other than reserve balances 1,826,691 + 2,283 +1,554,360 1,905,320

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,655,320 + 2,222 +1,458,315 1,740,455

Foreign official 16,232 - 887 + 10,977 16,232

Other13 155,138 + 947 + 85,067 148,633

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

Other liabilities and capital15 50,446 + 2,994 + 5,316 49,347

Total factors, other than reserve balances,

absorbing reserve funds 4,191,295 + 2,418 +1,846,450 4,274,585

Reserve balances with Federal Reserve Banks 2,777,603 - 36,364 +1,261,939 2,732,649

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

Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Wednesday

Jul 15, 2020

Securities held in custody for foreign official and international

accounts 3,405,122 + 2,444 - 60,432 3,398,871

Marketable U.S. Treasury securities1 2,951,842 + 2,520 - 88,769 2,946,444

Federal agency debt and mortgage-backed securities2 368,615 - 24 + 22,401 367,891

Other securities3 84,664 - 53 + 5,934 84,536

Securities lent to dealers 27,982 - 4,153 + 2,687 26,885

Overnight facility4 27,982 - 4,153 + 2,687 26,885

U.S. Treasury securities 27,982 - 4,153 + 2,687 26,885

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, July 15, 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 7,929 11,304 6,183 67,989 0 ... 93,404

U.S. Treasury securities2

Holdings 58,895 279,380 633,384 1,604,839 738,129 938,604 4,253,229

Weekly changes - 7,219 + 9,337 + 15,299 - 2,400 + 2,703 + 4,156 + 21,874

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 2,293 78,962 1,867,128 1,948,388

Weekly changes 0 0 0 - 9 - 626 + 37,623 + 36,987

Commercial paper held by Commercial

Paper Funding Facility II LLC5 1,768 336 0 ... ... ... 2,104

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 12 ... ... 12

Municipal notes held by Municipal

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

Loans held by TALF II LLC8 0 0 0 937 ... ... 937

Repurchase agreements9 2 0 ... ... ... ... 2

Central bank liquidity swaps10 61,566 93,284 0 0 0 0 154,850

Reverse repurchase agreements9 224,229 0 ... ... ... ... 224,229

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 Jul 15, 2020

Mortgage-backed securities held outright1 1,948,388

Residential mortgage-backed securities 1,939,214

Commercial mortgage-backed securities 9,174

Commitments to buy mortgage-backed securities2 91,157

Commitments to sell mortgage-backed securities2 79

Cash and cash equivalents3 24

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 Jul 15, 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 2,099 2,104 8,555 10,659

Corporate Credit Facilities LLC 11,163 11,485 31,938 43,423

MS Facilities LLC (Main Street Lending Program) 12 12 37,504 37,515

Municipal Liquidity Facility LLC 1,200 1,200 14,884 16,084

TALF II LLC 937 937 8,502 9,439

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.

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

Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,523 + 26 - 151

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,610,048 + 61,639 +2,869,088

Securities held outright1 6,203,965 + 58,862 +2,580,541

U.S. Treasury securities 4,253,229 + 21,874 +2,159,245

Bills2 326,044 0 + 326,042

Notes and bonds, nominal2 3,625,089 + 25,816 +1,670,718

Notes and bonds, inflation-indexed2 266,914 - 3,292 + 150,925

Inflation compensation3 35,182 - 651 + 11,560

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,948,388 + 36,987 + 421,295

Unamortized premiums on securities held outright5 317,957 + 2,706 + 187,734

Unamortized discounts on securities held outright5 -5,280 + 19 + 7,527

Repurchase agreements6 2 + 2 + 2

Loans7 93,404 + 49 + 93,284

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 10,659 - 2,143 + 10,659

Net portfolio holdings of Corporate Credit Facilities LLC8 43,423 + 779 + 43,423

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 37,515 + 12 + 37,515

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,084 + 2 + 16,084

Net portfolio holdings of TALF II LLC8 9,439 + 686 + 9,439

Items in process of collection (0) 53 + 2 - 31

Bank premises 2,198 + 2 + 11

Central bank liquidity swaps9 154,850 - 24,245 + 154,812

Foreign currency denominated assets10 21,094 + 121 + 245

Other assets11 35,481 + 1,008 + 9,399

Total assets (0) 6,958,604 + 37,888 +3,150,494

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

Jul 15, 2020 Jul 8, 2020 Jul 17, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,932,779 + 4,304 + 233,781

Reverse repurchase agreements12 224,229 - 631 - 58,367

Deposits (0) 4,637,969 + 33,103 +2,856,591

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,732,649 - 80,647 +1,217,580

U.S. Treasury, General Account 1,740,455 + 116,051 +1,534,252

Foreign official 16,232 0 + 10,977

Other13 (0) 148,633 - 2,301 + 93,781

Deferred availability cash items (0) 280 + 14 + 49

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

Other liabilities and accrued dividends15 10,586 + 1,099 + 4,907

Total liabilities (0) 6,919,843 + 37,888 +3,150,961

Capital accounts

Capital paid in 31,936 0 - 466

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,761 0 - 466

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, July 15, 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 1,523 33 41 122 90 212 156 248 27 43 94 170 288

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,610,048 167,233 3,391,486 155,200 205,771 414,273 484,559 368,189 104,975 66,202 110,065 317,160 824,934

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 10,659 0 10,659 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 43,423 0 43,423 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 37,515 37,515 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,084 0 16,084 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 9,439 0 9,439 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 154,850 7,350 52,039 5,572 13,233 32,684 7,680 6,014 2,538 1,213 1,633 1,838 23,056

Foreign currency denominated

assets4 21,094 1,001 7,091 759 1,802 4,452 1,046 819 346 165 222 250 3,140

Other assets5 37,733 2,476 16,812 914 1,242 2,641 2,847 2,136 746 469 888 1,985 4,577

Interdistrict settlement account 0 - 59,057 + 475,050 - 17,135 + 6,600 - 47,428 - 95,283 - 27,042 - 22,532 - 13,041 - 21,677 - 28,744 - 149,712

Total assets 6,958,604 157,085 4,027,607 145,962 229,500 407,999 403,187 351,500 86,578 55,321 91,676 293,861 708,328

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, July 15, 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 1,932,779 58,378 650,070 56,814 88,396 124,332 266,357 126,554 58,498 30,705 52,920 164,146 255,608

Reverse repurchase agreements6 224,229 5,035 116,096 5,116 7,015 14,053 16,525 12,524 3,543 2,119 3,566 10,807 27,830

Deposits 4,637,969 52,478 3,167,718 82,355 130,458 260,660 117,880 210,373 23,690 21,735 34,531 117,832 418,260

Depository institutions 2,732,649 52,455 1,352,910 82,353 130,404 259,469 117,806 123,203 23,686 21,678 34,503 115,929 418,253

U.S. Treasury, General Account 1,740,455 0 1,740,455 0 0 0 0 0 0 0 0 0 0

Foreign official 16,232 2 16,205 1 3 8 2 2 1 0 0 0 6

Other7 148,633 21 58,147 0 51 1,182 72 87,168 3 56 28 1,903 0

Earnings remittances due to the U.S.

Treasury8 1,922 25 1,034 42 69 123 139 101 23 16 20 87 244

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 8,944 339 4,681 229 263 645 534 433 189 420 223 338 651

Total liabilities 6,919,843 155,255 4,014,599 144,555 226,201 399,813 401,434 349,985 85,943 54,995 91,259 293,209 702,592

Capital

Capital paid in 31,936 1,506 10,714 1,161 2,715 6,745 1,414 1,250 523 272 344 571 4,719

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 6,958,604 157,085 4,027,607 145,962 229,500 407,999 403,187 351,500 86,578 55,321 91,676 293,861 708,328

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, July 15, 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 Federal Reserve Bank of Boston (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. 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 Federal Reserve Bank of Boston (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 Jul 15, 2020

Federal Reserve notes outstanding 2,086,113

Less: Notes held by F.R. Banks not subject to collateralization 153,334

Federal Reserve notes to be collateralized 1,932,779

Collateral held against Federal Reserve notes 1,932,779

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,916,542

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,203,967

Less: Face value of securities under reverse repurchase agreements 211,414

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 5,992,553

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.