FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 25, 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

Jun 24, 2020 Jun 17, 2020 Jun 26, 2019

Wednesday

Jun 24, 2020

Reserve Bank credit 7,009,664 - 75,503 +3,214,091 7,043,367

Securities held outright1 6,115,130 + 36,505 +2,462,634 6,143,193

U.S. Treasury securities 4,183,368 + 20,098 +2,073,175 4,197,404

Bills2 326,044 0 + 326,039 326,044

Notes and bonds, nominal2 3,556,714 + 18,489 +1,586,444 3,570,924

Notes and bonds, inflation-indexed2 264,552 + 1,858 + 148,036 264,552

Inflation compensation3 36,058 - 249 + 12,657 35,884

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

Mortgage-backed securities4 1,929,415 + 16,407 + 389,459 1,943,441

Unamortized premiums on securities held outright5 312,183 + 1,830 + 180,865 313,854

Unamortized discounts on securities held outright5 -5,340 + 68 + 7,577 -5,319

Repurchase agreements6 73,129 - 47,300 + 73,129 70,201

Foreign official 0 0 0 1

Others 73,129 - 47,300 + 73,129 70,200

Loans 93,958 - 2,444 + 93,858 95,360

Primary credit 7,123 - 816 + 7,101 6,237

Secondary credit 0 0 0 1

Seasonal credit 12 0 - 66 13

Primary Dealer Credit Facility 3,980 - 1,641 + 3,980 3,624

Money Market Mutual Fund Liquidity Facility 23,468 - 2,136 + 23,468 22,889

Paycheck Protection Program Liquidity Facility 59,374 + 2,148 + 59,374 62,597

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 12,797 + 1 + 12,797 12,798

Net portfolio holdings of Corporate Credit Facilities LLC7 39,956 + 1,846 + 39,956 40,617

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 32,680 + 805 + 32,680 37,502

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,079 + 1 + 16,079 16,080

Net portfolio holdings of TALF II LLC7 7,286 + 7,286 + 7,286 8,500

Float -183 + 46 - 19 -212

Central bank liquidity swaps8 276,697 - 75,887 + 276,679 274,963

Other Federal Reserve assets9 35,294 + 1,741 + 10,572 35,830

Foreign currency denominated assets10 20,920 - 3 - 111 20,958

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,387 + 14 + 462 50,387

Total factors supplying reserve funds 7,097,213 - 75,492 +3,214,443 7,130,953

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

1. Factors Affecting Reserve Balances of Depository Institutions (continued)

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jun 24, 2020 Jun 17, 2020 Jun 26, 2019

Wednesday

Jun 24, 2020

Currency in circulation11 1,961,296 + 4,369 + 223,081 1,963,978

Reverse repurchase agreements12 223,765 - 9,200 - 54,645 220,362

Foreign official and international accounts 223,761 - 8,579 - 37,958 220,361

Others 4 - 622 - 16,687 1

Treasury cash holdings 80 - 33 - 115 66

Deposits with F.R. Banks, other than reserve balances 1,831,165 + 84,689 +1,514,890 1,848,380

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,623,942 + 63,092 +1,375,640 1,586,573

Foreign official 16,227 - 23 + 10,974 16,222

Other13 190,997 + 21,621 + 128,277 245,586

Treasury contributions to credit facilities14 114,000 + 7,143 + 114,000 114,000

Other liabilities and capital15 48,150 - 2,725 + 3,211 46,510

Total factors, other than reserve balances,

absorbing reserve funds 4,178,457 + 84,243 +1,800,424 4,193,297

Reserve balances with Federal Reserve Banks 2,918,756 - 159,735 +1,414,019 2,937,657

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

Jun 24, 2020 Jun 17, 2020 Jun 26, 2019

Wednesday

Jun 24, 2020

Securities held in custody for foreign official and international

accounts 3,429,880 + 10,560 - 37,466 3,428,914

Marketable U.S. Treasury securities1 2,968,883 + 12,150 - 74,648 2,970,551

Federal agency debt and mortgage-backed securities2 375,885 - 1,688 + 29,663 373,280

Other securities3 85,113 + 99 + 7,520 85,083

Securities lent to dealers 29,199 - 4,462 + 428 31,735

Overnight facility4 29,199 - 4,462 + 428 31,735

U.S. Treasury securities 29,199 - 4,462 + 428 31,735

Federal agency debt securities 0 0 0 0

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

1. Includes securities and U.S. Treasury STRIPS at face value, and inflation compensation on TIPS. Does not include securities pledged as collateral

to foreign official and international account holders against reverse repurchase agreements with the Federal Reserve presented in tables 1, 5, and 6.

2. Face value of federal agency securities and current face value of mortgage-backed securities, which is the remaining principal balance of the

securities.

3. Includes non-marketable U.S. Treasury securities, supranationals, corporate bonds, asset-backed securities, and commercial paper at face value.

4. Face value. Fully collateralized by U.S. Treasury securities.
H.4.1

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, June 24, 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 8,632 16,444 7,687 62,597 0 ... 95,360

U.S. Treasury securities2

Holdings 64,328 274,008 605,122 1,592,447 735,883 925,617 4,197,404

Weekly changes - 6,037 - 2,143 + 17,236 + 10,672 + 6,724 + 1,611 + 28,064

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 2,266 80,708 1,860,462 1,943,441

Weekly changes 0 0 0 - 1 0 + 24,701 + 24,700

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 4,252 0 ... ... ... 4,252

Loan participations held by MS

Facilities LLC (Main Street Lending

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

Municipal notes held by Municipal

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

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

Repurchase agreements9 70,201 0 ... ... ... ... 70,201

Central bank liquidity swaps10 180,952 94,011 0 0 0 0 274,963

Reverse repurchase agreements9 220,362 0 ... ... ... ... 220,362

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 Jun 24, 2020

Mortgage-backed securities held outright1 1,943,441

Residential mortgage-backed securities 1,934,299

Commercial mortgage-backed securities 9,142

Commitments to buy mortgage-backed securities2 79,174

Commitments to sell mortgage-backed securities2 84

Cash and cash equivalents3 58

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

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

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

securities generally settle within three business days.

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

4. Information on Principal Accounts of Credit Facilities LLCs

Millions of dollars

Wednesday Jun 24, 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 4,243 4,252 8,547 12,798

Corporate Credit Facilities LLC 8,334 8,710 31,907 40,617

MS Facilities LLC (Main Street Lending Program) 0 0 37,502 37,502

Municipal Liquidity Facility LLC 1,200 1,200 14,880 16,080

TALF II LLC 0 0 8,500 8,500

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

Jun 24, 2020 Jun 17, 2020 Jun 26, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,455 + 24 - 229

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,617,290 + 47,118 +2,853,656

Securities held outright1 6,143,193 + 52,765 +2,497,864

U.S. Treasury securities 4,197,404 + 28,064 +2,087,148

Bills2 326,044 0 + 326,039

Notes and bonds, nominal2 3,570,924 + 28,535 +1,600,654

Notes and bonds, inflation-indexed2 264,552 0 + 148,036

Inflation compensation3 35,884 - 472 + 12,419

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 1,943,441 + 24,700 + 410,715

Unamortized premiums on securities held outright5 313,854 + 2,828 + 182,828

Unamortized discounts on securities held outright5 -5,319 + 47 + 7,586

Repurchase agreements6 70,201 - 8,852 + 70,201

Loans7 95,360 + 329 + 95,176

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 12,798 + 1 + 12,798

Net portfolio holdings of Corporate Credit Facilities LLC8 40,617 + 1,701 + 40,617

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 37,502 + 5,626 + 37,502

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,080 + 1 + 16,080

Net portfolio holdings of TALF II LLC8 8,500 + 8,500 + 8,500

Items in process of collection (0) 73 + 22 + 5

Bank premises 2,202 0 + 11

Central bank liquidity swaps9 274,963 - 77,507 + 274,945

Foreign currency denominated assets10 20,958 + 92 - 102

Other assets11 33,628 + 2,034 + 11,704

Total assets (0) 7,082,302 - 12,388 +3,255,485

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

5. Consolidated Statement of Condition of All Federal Reserve Banks (continued)

Millions of dollars

Change since

Assets, liabilities, and capital Wednesday Wednesday Eliminations from

consolidation

Wednesday

Jun 24, 2020 Jun 17, 2020 Jun 26, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,915,107 + 4,221 + 221,103

Reverse repurchase agreements12 220,362 - 5,100 - 51,827

Deposits (0) 4,786,037 - 9,593 +2,970,424

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,937,657 - 131,782 +1,429,206

U.S. Treasury, General Account 1,586,573 + 21,267 +1,345,664

Foreign official 16,222 - 25 + 10,973

Other13 (0) 245,586 + 100,949 + 184,582

Deferred availability cash items (0) 285 + 17 - 54

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

Other liabilities and accrued dividends15 7,599 - 1,932 + 2,147

Total liabilities (0) 7,043,391 - 12,385 +3,255,794

Capital accounts

Capital paid in 32,086 - 4 - 309

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 38,911 - 4 - 309

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, June 24, 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 1,455 26 38 126 81 199 149 243 26 39 90 164 273

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,617,290 172,125 3,396,053 153,154 205,797 414,371 484,831 368,405 105,010 65,602 110,121 317,144 824,676

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 12,798 0 12,798 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 40,617 0 40,617 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 37,502 37,502 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,080 0 16,080 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 8,500 0 8,500 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 274,963 13,051 92,405 9,895 23,497 58,036 13,637 10,678 4,507 2,153 2,900 3,264 40,939

Foreign currency denominated

assets4 20,958 995 7,045 754 1,791 4,423 1,039 814 344 164 221 249 3,120

Other assets5 35,903 2,436 15,858 870 1,183 2,535 2,721 2,028 698 460 847 1,927 4,340

Interdistrict settlement account 0 - 66,677 + 487,505 - 19,387 - 1,791 - 4,518 - 111,107 - 27,019 - 23,407 - 14,095 - 23,826 - 25,079 - 170,597

Total assets 7,082,302 159,991 4,082,382 145,941 231,319 476,211 393,454 356,285 87,657 54,593 90,803 298,871 704,795

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 24, 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 1,915,107 57,884 643,103 53,757 85,825 124,558 263,946 125,725 58,461 30,708 52,854 162,852 255,436

Reverse repurchase agreements6 220,362 4,949 114,094 5,027 6,894 13,811 16,240 12,308 3,482 2,083 3,504 10,620 27,350

Deposits 4,786,037 55,972 3,234,381 85,480 134,967 328,872 110,705 216,219 24,870 21,042 33,789 124,339 415,401

Depository institutions 2,937,657 55,942 1,477,943 85,479 134,928 328,074 109,502 129,856 24,867 20,988 32,914 121,769 415,395

U.S. Treasury, General Account 1,586,573 0 1,586,573 0 0 0 0 0 0 0 0 0 0

Foreign official 16,222 2 16,195 1 3 8 2 2 1 0 0 0 6

Other7 245,586 27 153,670 0 35 790 1,201 86,362 3 53 874 2,570 0

Earnings remittances due to the U.S.

Treasury8 1,423 34 742 31 47 96 104 75 21 10 20 64 178

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 6,462 324 2,055 239 287 688 556 442 188 425 219 344 695

Total liabilities 7,043,391 158,162 4,069,375 144,534 228,021 468,025 391,550 354,770 87,021 54,267 90,386 298,219 699,060

Capital

Capital paid in 32,086 1,506 10,714 1,161 2,715 6,745 1,565 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 7,082,302 159,991 4,082,382 145,941 231,319 476,211 393,454 356,285 87,657 54,593 90,803 298,871 704,795

Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 24, 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) has extended loans to several 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 dollar-denominated 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.

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 Jun 24, 2020

Federal Reserve notes outstanding 2,071,729

Less: Notes held by F.R. Banks not subject to collateralization 156,621

Federal Reserve notes to be collateralized 1,915,107

Collateral held against Federal Reserve notes 1,915,107

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,898,871

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,213,394

Less: Face value of securities under reverse repurchase agreements 208,343

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,005,051

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.