FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks October 29, 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

Oct 28, 2020 Oct 21, 2020 Oct 30, 2019

Wednesday

Oct 28, 2020

Reserve Bank credit 7,124,894 + 14,029 +3,158,955 7,106,102

Securities held outright1 6,547,389 + 13,939 +2,934,591 6,529,839

U.S. Treasury securities 4,517,762 + 22,158 +2,354,787 4,527,186

Bills2 326,044 0 + 285,752 326,044

Notes and bonds, nominal2 3,853,927 + 20,232 +1,876,757 3,863,263

Notes and bonds, inflation-indexed2 295,962 + 1,544 + 174,969 295,962

Inflation compensation3 41,830 + 383 + 17,310 41,918

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

Mortgage-backed securities4 2,027,280 - 8,219 + 579,804 2,000,305

Unamortized premiums on securities held outright5 338,677 + 949 + 211,918 338,236

Unamortized discounts on securities held outright5 -4,595 + 28 + 8,106 -4,589

Repurchase agreements6 1,000 0 - 210,736 1,000

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

Others 0 0 - 211,736 0

Loans 72,406 - 1,744 + 72,351 72,462

Primary credit 2,656 - 148 + 2,643 2,790

Secondary credit 0 0 0 0

Seasonal credit 4 - 5 - 38 1

Primary Dealer Credit Facility 236 + 43 + 236 243

Money Market Mutual Fund Liquidity Facility 5,627 - 392 + 5,627 5,530

Paycheck Protection Program Liquidity Facility 63,883 - 1,242 + 63,883 63,899

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,561 + 2 + 8,561 8,576

Net portfolio holdings of Corporate Credit Facilities LLC7 45,435 + 81 + 45,435 45,477

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 41,142 + 422 + 41,142 41,273

Net portfolio holdings of Municipal Liquidity Facility LLC7 16,550 + 1 + 16,550 16,551

Net portfolio holdings of TALF II LLC7 11,762 + 7 + 11,762 11,763

Float -256 - 37 - 7 -757

Central bank liquidity swaps8 6,799 - 652 + 6,758 6,799

Other Federal Reserve assets9 40,023 + 1,033 + 12,524 39,473

Foreign currency denominated assets10 21,719 + 118 + 1,081 21,672

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,467 + 14 + 447 50,467

Total factors supplying reserve funds 7,213,321 + 14,161 +3,160,484 7,194,482

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

Oct 28, 2020 Oct 21, 2020 Oct 30, 2019

Wednesday

Oct 28, 2020

Currency in circulation11 2,042,923 + 829 + 266,884 2,044,990

Reverse repurchase agreements12 194,892 + 5,556 - 91,822 201,893

Foreign official and international accounts 194,891 + 5,558 - 91,716 201,888

Others 1 - 2 - 107 5

Treasury cash holdings 43 + 4 - 149 49

Deposits with F.R. Banks, other than reserve balances 1,932,177 - 10,634 +1,470,866 1,838,848

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 1,680,933 - 43,859 +1,291,061 1,653,039

Foreign official 21,249 + 1,215 + 16,062 21,251

Other13 229,996 + 32,011 + 163,744 164,558

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

Other liabilities and capital15 48,505 - 1,896 + 3,627 47,446

Total factors, other than reserve balances,

absorbing reserve funds 4,332,541 - 6,139 +1,763,406 4,247,226

Reserve balances with Federal Reserve Banks 2,880,781 + 20,301 +1,397,079 2,947,256

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

Oct 28, 2020 Oct 21, 2020 Oct 30, 2019

Wednesday

Oct 28, 2020

Securities held in custody for foreign official and international

accounts 3,394,941 - 7,848 - 26,720 3,398,810

Marketable U.S. Treasury securities1 2,953,892 - 16,912 - 22,515 2,959,726

Federal agency debt and mortgage-backed securities2 355,041 + 8,615 - 6,958 352,714

Other securities3 86,008 + 449 + 2,753 86,369

Securities lent to dealers 24,854 + 3,256 + 2,405 26,544

Overnight facility4 24,854 + 3,256 + 2,405 26,544

U.S. Treasury securities 24,854 + 3,256 + 2,405 26,544

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, October 28, 2020

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 1,083 5,569 1,911 63,899 0 ... 72,462

U.S. Treasury securities2

Holdings 76,703 269,340 654,840 1,710,201 809,323 1,006,780 4,527,186

Weekly changes - 2,957 + 4,341 - 1,366 + 8,860 + 4,032 + 4,500 + 17,408

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 4 2,039 76,228 1,922,034 2,000,305

Weekly changes 0 0 - 1 - 96 - 1,384 - 45,449 - 46,930

Commercial paper held by Commercial

Paper Funding Facility II LLC5 0 0 0 ... ... ... 0

Loan participations held by MS

Facilities LLC (Main Street Lending

Program)6 0 0 0 3,732 ... ... 3,732

Municipal notes held by Municipal

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

Loans held by TALF II LLC8 0 0 0 3,099 ... ... 3,099

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

Central bank liquidity swaps10 1,261 5,539 0 0 0 0 6,799

Reverse repurchase agreements9 201,893 0 ... ... ... ... 201,893

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 Oct 28, 2020

Mortgage-backed securities held outright1 2,000,305

Residential mortgage-backed securities 1,990,576

Commercial mortgage-backed securities 9,729

Commitments to buy mortgage-backed securities2 143,928

Commitments to sell mortgage-backed securities2 0

Cash and cash equivalents3 115

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 Oct 28, 2020

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

Commercial Paper Funding Facility II LLC 0 0 8,576 8,576

Corporate Credit Facilities LLC 13,285 13,405 32,072 45,477

MS Facilities LLC (Main Street Lending Program) 3,731 3,732 37,541 41,273

Municipal Liquidity Facility LLC 1,651 1,651 14,900 16,551

TALF II LLC 3,252 3,099 8,664 11,763

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

Oct 28, 2020 Oct 21, 2020 Oct 30, 2019

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,478 - 4 - 196

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 6,936,948 - 30,839 +2,983,878

Securities held outright1 6,529,839 - 29,521 +2,906,239

U.S. Treasury securities 4,527,186 + 17,408 +2,351,695

Bills2 326,044 0 + 275,036

Notes and bonds, nominal2 3,863,263 + 15,871 +1,884,292

Notes and bonds, inflation-indexed2 295,962 + 1,201 + 174,969

Inflation compensation3 41,918 + 337 + 17,399

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,000,305 - 46,930 + 554,543

Unamortized premiums on securities held outright5 338,236 - 588 + 211,584

Unamortized discounts on securities held outright5 -4,589 + 19 + 8,161

Repurchase agreements6 1,000 0 - 214,500

Loans7 72,462 - 750 + 72,394

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,576 + 17 + 8,576

Net portfolio holdings of Corporate Credit Facilities LLC8 45,477 + 99 + 45,477

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 41,273 + 380 + 41,273

Net portfolio holdings of Municipal Liquidity Facility LLC8 16,551 + 1 + 16,551

Net portfolio holdings of TALF II LLC8 11,763 + 1 + 11,763

Items in process of collection (0) 59 + 5 + 5

Bank premises 2,199 + 3 - 1

Central bank liquidity swaps9 6,799 - 843 + 6,758

Foreign currency denominated assets10 21,672 - 108 + 1,012

Other assets11 37,274 + 330 + 11,387

Total assets (0) 7,146,306 - 30,959 +3,126,483

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

Oct 28, 2020 Oct 21, 2020 Oct 30, 2019

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 1,996,047 + 2,250 + 263,179

Reverse repurchase agreements12 201,893 + 14,458 - 87,768

Deposits (0) 4,786,104 - 45,611 +2,834,585

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 2,947,256 + 57,126 +1,462,537

U.S. Treasury, General Account 1,653,039 - 46,458 +1,252,423

Foreign official 21,251 + 4 + 16,064

Other13 (0) 164,558 - 56,283 + 103,560

Deferred availability cash items (0) 816 + 443 - 340

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

Other liabilities and accrued dividends15 8,222 - 2,500 + 2,940

Total liabilities (0) 7,107,082 - 30,960 +3,126,596

Capital accounts

Capital paid in 32,399 + 1 - 113

Surplus 6,825 0 0

Other capital accounts 0 0 0

Total capital 39,224 + 1 - 113

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, October 28, 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 1,478 27 31 122 81 208 148 250 28 40 101 170 273

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 6,936,948 161,440 3,566,308 163,261 217,043 434,022 509,539 386,840 110,280 72,550 115,092 333,751 866,823

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,576 0 8,576 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 45,477 0 45,477 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 41,273 41,273 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 16,551 0 16,551 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 11,763 0 11,763 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 6,799 323 2,285 245 581 1,435 337 264 111 53 72 81 1,012

Foreign currency denominated

assets4 21,672 1,029 7,285 780 1,852 4,574 1,075 842 355 170 229 257 3,226

Other assets5 39,532 2,489 17,708 967 1,295 2,727 2,978 2,233 770 505 928 2,135 4,795

Interdistrict settlement account 0 - 44,237 + 333,386 - 27,922 + 54,577 + 125,804 - 119,454 - 20,666 - 23,540 - 14,054 - 25,279 - 44,211 - 194,404

Total assets 7,146,306 162,875 4,014,852 137,983 276,189 569,934 396,806 370,900 88,483 59,535 91,592 293,385 683,771

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, October 28, 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 1,996,047 61,722 667,000 55,616 93,195 136,413 278,923 128,783 59,200 32,986 54,732 167,670 259,805

Reverse repurchase agreements6 201,893 4,534 104,532 4,606 6,317 12,653 14,879 11,277 3,190 1,908 3,211 9,730 25,057

Deposits 4,786,104 55,356 3,151,698 76,087 172,991 411,923 100,560 228,799 25,161 23,338 32,976 114,913 392,302

Depository institutions 2,947,256 55,340 1,430,366 76,086 172,959 410,487 100,456 114,504 25,156 23,033 32,938 113,674 392,256

U.S. Treasury, General Account 1,653,039 0 1,653,039 0 0 0 0 0 0 0 0 0 0

Foreign official 21,251 2 21,225 1 3 8 2 2 1 0 0 0 6

Other7 164,558 15 47,068 0 28 1,427 101 114,294 5 305 37 1,239 40

Earnings remittances due to the U.S.

Treasury8 691 0 408 13 13 41 51 34 -1 4 6 38 85

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 8,348 432 3,043 252 294 725 594 476 204 970 247 370 740

Total liabilities 7,107,082 161,043 4,001,681 136,575 272,809 561,756 395,007 369,369 87,755 59,206 91,171 292,721 677,990

Capital

Capital paid in 32,399 1,508 10,878 1,162 2,797 6,738 1,460 1,266 616 275 349 583 4,765

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

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

Total liabilities and capital 7,146,306 162,875 4,014,852 137,983 276,189 569,934 396,806 370,900 88,483 59,535 91,592 293,385 683,771

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, October 28, 2020 (continued)

1. Securities include outright holdings of U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, including securities lent to dealers under the overnight securities

lending facility; refer to table 1A. Mortgage-backed securities are guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Unamortized premiums and discounts are the differences between the

purchase price and the face value of the securities that have not been amortized. For U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities, amortization is on

an effective-interest basis. Repurchase agreements reflect the cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. Loans includes primary,

secondary, and seasonal loans and credit extended through the Primary Dealer Credit Facility, Money Market Mutual Fund Liquidity Facility, Paycheck Protection Program Liquidity Facility, and

other credit extensions.

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

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

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

4. Revalued daily at current foreign currency exchange rates.

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

holdings of Maiden Lane LLC; refer to the note on consolidation for additional information.

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

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

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

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

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

providing for the costs of operations, payment of dividends, and the amount necessary to maintain a $6.825 billion surplus.

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

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

 

Note on consolidation:

The Federal Reserve Bank of New York (FRBNY) and the Federal Reserve Bank of Boston (FRBB) have extended loans to limited liability companies under the authority of section 13(3) of the Federal

Reserve Act. On April 14, 2020, FRBNY began extending loans to the Commercial Paper Funding Facility II LLC (CPFF II LLC), a limited liability company formed to purchase three-month U.S dollardenominated commercial paper by eligible issuers. The assets of the CPFF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the

FRBNY. On May 12, 2020, FRBNY began extending loans to the Corporate Credit Facilities LLC (CCF LLC), a limited liability company formed to purchase eligible bonds or portions of syndicated loans

or bonds at issuance through the Primary Market Corporate Credit Facility and to purchase eligible individual corporate bonds and exchange-traded funds through the Secondary Market Corporate

Credit Facility. The assets of the CCF LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 5, 2020, FRBNY began

extending loans to the Municipal Liquidity Facility LLC (MLF LLC), a limited liability company formed to purchase municipal notes from eligible issuers. The assets of the MLF LLC and the amount

provided by U.S. Treasury as credit protection to the FRBNY are used to secure the loan from the FRBNY. On June 25, 2020, FRBNY began extending loans to the TALF II LLC, a special purpose

vehicle that was formed to help support the flow of credit to consumers and businesses. The assets of the TALF II LLC and the amount provided by U.S. Treasury as credit protection to the FRBNY are

used to secure the loan from the FRBNY. On July 15, 2020, the FRBB began extending loans to the MS Facilities LLC (Main Street Lending Program), a special purpose vehicle that was formed to help

ensure credit flows to small and medium-sized businesses and to eligible nonprofits. The assets of the MS Facilities LLC and the amount provided by U.S. Treasury as credit protection to the FRBB are

used to secure the loan from the FRBB.

The FRBNY is the managing member of CPFF II LLC, CCF LLC, MLF LLC, and TALF II LLC. The FRBB is the managing member of MS Facilities LLC (Main Street Lending Program). Consistent with

generally accepted accounting principles, the assets and liabilities of each LLC have been accounted for and consolidated with the assets and liabilities of the FRBNY or FRBB, in the preparation of the

statements of condition shown on this release. As a consequence of the consolidation, the loan from the Reserve Bank to the LLC is eliminated as are any balances held at the FRBNY for LLCs

consolidated to FRBNY or FRBB for LLCs consolidated to FRBB. Treasury contributions to credit facilities are held at FRBNY until invested. Net assets of the LLC appears as assets on table 6 (and in

table 1 and table 5), and the liabilities of the LLC to entities other than the FRBNY or FRBB, including those with recourse only to the portfolio holdings of the LLC, are included in other liabilities in this

table (and table 1 and table 5). The amount provided by U.S. Treasury as credit protection to FRBNY and FRBB appears as liabilities on table 6 (and in table 1 and table 5).
H.4.1

7. Collateral Held against Federal Reserve Notes: Federal Reserve Agents’ Accounts

Millions of dollars

Wednesday Federal Reserve notes and collateral Oct 28, 2020

Federal Reserve notes outstanding 2,152,842

Less: Notes held by F.R. Banks not subject to collateralization 156,795

Federal Reserve notes to be collateralized 1,996,047

Collateral held against Federal Reserve notes 1,996,047

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 1,979,810

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 6,530,839

Less: Face value of securities under reverse repurchase agreements 192,256

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,338,583

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.