FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and

Condition Statement of Federal Reserve Banks June 3, 2021

1. Factors Affecting Reserve Balances of Depository Institutions

Millions of dollars

Averages of daily figures

Change from week ended

Reserve Bank credit, related items, and

reserve balances of depository institutions at

Federal Reserve Banks

Week ended

Jun 2, 2021 May 26, 2021 Jun 3, 2020

Wednesday

Jun 2, 2021

Reserve Bank credit 7,879,913 - 9,317 + 778,729 7,895,638

Securities held outright1 7,349,075 - 8,601 +1,388,966 7,365,641

U.S. Treasury securities 5,102,458 + 20,353 + 980,017 5,119,023

Bills2 326,044 0 0 326,044

Notes and bonds, nominal2 4,382,646 + 18,176 + 881,222 4,398,990

Notes and bonds, inflation-indexed2 342,856 + 1,429 + 84,662 342,856

Inflation compensation3 50,913 + 749 + 14,134 51,133

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

Mortgage-backed securities4 2,244,270 - 28,954 + 408,948 2,244,270

Unamortized premiums on securities held outright5 348,972 - 777 + 43,957 349,132

Unamortized discounts on securities held outright5 -13,636 - 209 - 8,149 -13,695

Repurchase agreements6 0 - 7 - 199,714 0

Foreign official 0 0 0 0

Others 0 - 7 - 199,714 0

Loans 84,785 + 792 - 19,656 84,977

Primary credit 578 - 48 - 13,153 578

Secondary credit 0 0 0 0

Seasonal credit 5 + 3 0 9

Primary Dealer Credit Facility 0 0 - 5,782 0

Money Market Mutual Fund Liquidity Facility 0 0 - 31,661 0

Paycheck Protection Program Liquidity Facility 84,202 + 837 + 30,940 84,389

Other credit extensions 0 0 0 0

Net portfolio holdings of Commercial Paper Funding

Facility II LLC7 8,554 0 - 4,240 8,554

Net portfolio holdings of Corporate Credit Facilities LLC7 25,963 - 13 - 9,609 25,963

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)7 30,562 + 10 + 30,562 30,567

Net portfolio holdings of Municipal Liquidity Facility LLC7 10,881 - 32 - 2,040 10,882

Net portfolio holdings of TALF II LLC7 4,784 - 138 + 4,784 4,761

Float -614 - 490 - 34 -700

Central bank liquidity swaps8 642 - 36 - 446,602 513

Other Federal Reserve assets9 29,945 + 183 + 504 29,042

Foreign currency denominated assets10 21,727 - 28 + 992 21,815

Gold stock 11,041 0 0 11,041

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

Treasury currency outstanding11 50,656 + 14 + 428 50,656

Total factors supplying reserve funds 7,968,537 - 9,331 + 780,150 7,984,349

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 2, 2021 May 26, 2021 Jun 3, 2020

Wednesday

Jun 2, 2021

Currency in circulation11 2,176,914 + 6,758 + 227,230 2,179,122

Reverse repurchase agreements12 702,342 + 87,342 + 449,270 672,906

Foreign official and international accounts 232,330 + 8,250 - 19,884 234,128

Others 470,012 + 79,092 + 469,155 438,778

Treasury cash holdings 37 + 3 - 162 37

Deposits with F.R. Banks, other than reserve balances 1,175,343 - 111,620 - 441,271 1,183,620

Term deposits held by depository institutions 0 0 0 0

U.S. Treasury, General Account 783,235 - 29,238 - 651,588 812,087

Foreign official 26,846 - 169 + 10,569 26,748

Other13 365,262 - 82,213 + 199,748 344,785

Treasury contributions to credit facilities14 50,278 0 - 32,293 50,278

Other liabilities and capital15 49,495 - 762 + 709 50,123

Total factors, other than reserve balances,

absorbing reserve funds 4,154,409 - 18,281 + 203,482 4,136,087

Reserve balances with Federal Reserve Banks 3,814,127 + 8,949 + 576,666 3,848,262

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 $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.
H.4.1

1A. Memorandum Items

Millions of dollars

Averages of daily figures

Memorandum item Week ended Change from week ended

Jun 2, 2021 May 26, 2021 Jun 3, 2020

Wednesday

Jun 2, 2021

Securities held in custody for foreign official and international

accounts 3,536,109 + 926 + 146,334 3,539,316

Marketable U.S. Treasury securities1 3,096,284 + 9,272 + 169,001 3,099,724

Federal agency debt and mortgage-backed securities2 350,924 - 8,731 - 26,409 350,572

Other securities3 88,900 + 384 + 3,741 89,019

Securities lent to dealers 38,474 + 2,162 + 8,095 36,662

Overnight facility4 38,474 + 2,162 + 8,095 36,662

U.S. Treasury securities 38,474 + 2,162 + 8,095 36,662

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 2, 2021

Millions of dollars

Remaining Maturity Within 15

days

16 days to

90 days

91 days to

1 year

Over 1 year

to 5 years

Over 5 year

to 10 years

Over 10

years

All

Loans1 171 416 20,512 63,876 1 ... 84,977

U.S. Treasury securities2

Holdings 62,321 316,521 643,631 1,976,806 928,755 1,190,991 5,119,023

Weekly changes - 25,692 + 12,856 - 4,331 + 39,426 + 2,193 + 7,415 + 31,866

Federal agency debt securities3

Holdings 0 0 0 0 2,134 213 2,347

Weekly changes 0 0 0 0 0 0 0

Mortgage-backed securities4

Holdings 0 0 15 1,847 67,131 2,175,277 2,244,270

Weekly changes 0 0 + 4 + 3 - 7 + 5 + 5

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 16,320 ... ... 16,320

Municipal notes held by Municipal

Liquidity Facility LLC7 150 0 0 5,358 ... ... 5,508

Loans held by TALF II LLC8 0 0 0 1,675 ... ... 1,675

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

Central bank liquidity swaps10 175 338 0 0 0 0 513

Reverse repurchase agreements9 672,906 0 ... ... ... ... 672,906

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, 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 2, 2021

Mortgage-backed securities held outright1 2,244,270

Residential mortgage-backed securities 2,234,447

Commercial mortgage-backed securities 9,823

Commitments to buy mortgage-backed securities2 201,850

Commitments to sell mortgage-backed securities2 10

Cash and cash equivalents3 3

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 2, 2021

Net portfolio holdings of

Credit Facilities LLCs

Outstanding

principal Outstanding

amount amount of Treasury

of loan facility contributions

extended to asset and

Credit Facilities LLCs:

the LLC1 purchases2 other assets3 Total

Commercial Paper Funding Facility II LLC 0 0 8,554 8,554

Corporate Credit Facilities LLC 13,757 13,566 12,398 25,963

MS Facilities LLC (Main Street Lending Program) 16,282 13,662 16,906 30,567

Municipal Liquidity Facility LLC 5,508 5,508 5,374 10,882

TALF II LLC 1,733 1,675 3,086 4,761

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, net of an allowance for loan losses

 updated as of March 31, 2021.

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 approximately 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 2, 2021 May 26, 2021 Jun 3, 2020

Assets

Gold certificate account 11,037 0 0

Special drawing rights certificate account 5,200 0 0

Coin 1,240 - 19 - 194

Securities, unamortized premiums and discounts,

repurchase agreements, and loans 7,786,055 + 32,207 +1,200,487

Securities held outright1 7,365,641 + 31,872 +1,393,344

U.S. Treasury securities 5,119,023 + 31,866 + 984,667

Bills2 326,044 0 0

Notes and bonds, nominal2 4,398,990 + 31,204 + 886,566

Notes and bonds, inflation-indexed2 342,856 0 + 83,705

Inflation compensation3 51,133 + 662 + 14,396

Federal agency debt securities2 2,347 0 0

Mortgage-backed securities4 2,244,270 + 5 + 408,676

Unamortized premiums on securities held outright5 349,132 + 371 + 43,863

Unamortized discounts on securities held outright5 -13,695 - 73 - 8,191

Repurchase agreements6 0 - 46 - 211,550

Loans7 84,977 + 83 - 16,979

Net portfolio holdings of Commercial Paper Funding

Facility II LLC8 8,554 0 - 4,241

Net portfolio holdings of Corporate Credit Facilities LLC8 25,963 - 74 - 10,191

Net portfolio holdings of MS Facilities LLC (Main Street

Lending Program)8 30,567 + 8 + 30,567

Net portfolio holdings of Municipal Liquidity Facility LLC8 10,882 + 3 - 5,193

Net portfolio holdings of TALF II LLC8 4,761 - 162 + 4,761

Items in process of collection (0) 74 + 2 + 33

Bank premises 1,911 - 9 - 287

Central bank liquidity swaps9 513 - 165 - 446,432

Foreign currency denominated assets10 21,815 + 70 + 1,047

Other assets11 27,131 + 301 + 129

Total assets (0) 7,935,703 + 32,162 + 770,486

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 2, 2021 May 26, 2021 Jun 3, 2020

Liabilities

Federal Reserve notes, net of F.R. Bank holdings 2,129,739 + 6,164 + 226,079

Reverse repurchase agreements12 672,906 + 2,473 + 426,852

Deposits (0) 5,031,882 + 21,035 + 171,185

Term deposits held by depository institutions 0 0 0

Other deposits held by depository institutions 3,848,262 - 3,361 + 590,827

U.S. Treasury, General Account 812,087 + 33,175 - 619,375

Foreign official 26,748 - 328 + 10,467

Other13 (0) 344,785 - 8,452 + 189,266

Deferred availability cash items (0) 774 + 542 + 16

Treasury contributions to credit facilities14 50,278 0 - 53,722

Other liabilities and accrued dividends15 10,615 + 1,948 - 516

Total liabilities (0) 7,896,195 + 32,161 + 769,895

Capital accounts

Capital paid in 32,724 + 1 + 632

Surplus 6,785 0 - 40

Other capital accounts 0 0 0

Total capital 39,509 + 1 + 592

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 $13.9 billion,

MS Facilities LLC of $16.6 billion, Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

15. Includes the liability for earnings remittances due to the U.S. Treasury.
H.4.1

6. Statement of Condition of Each Federal Reserve Bank, June 2, 2021

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Assets

Gold certificates and special drawing

rights certificates 16,237 531 5,422 523 752 1,187 2,188 1,136 475 273 455 1,220 2,075

Coin 1,240 18 28 108 57 177 114 225 15 34 86 146 232

Securities, unamortized premiums and

discounts, repurchase agreements,

and loans1 7,786,055 128,924 4,364,897 167,461 292,435 518,677 452,574 421,278 101,616 81,623 105,666 341,792 809,113

Net portfolio holdings of Commercial

Paper Funding Facility II LLC2 8,554 0 8,554 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Corporate

Credit Facilities LLC2 25,963 0 25,963 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of MS

Facilities LLC (Main Street Lending

Program)2 30,567 30,567 0 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of Municipal

Liquidity Facility LLC2 10,882 0 10,882 0 0 0 0 0 0 0 0 0 0

Net portfolio holdings of TALF II LLC2 4,761 0 4,761 0 0 0 0 0 0 0 0 0 0

Central bank liquidity swaps3 513 23 172 18 44 107 23 20 10 4 6 9 76

Foreign currency denominated

assets4 21,815 986 7,396 780 1,878 4,520 982 851 413 185 235 391 3,198

Other assets5 29,116 574 14,965 709 1,106 2,205 1,832 1,616 664 397 688 1,402 2,959

Interdistrict settlement account 0 + 21,654 - 249,601 + 29,213 - 2,332 - 5,075 + 23,038 + 76,876 + 6,598 - 11,734 + 7,240 + 22,602 + 81,522

Total assets 7,935,703 183,276 4,193,439 198,813 293,941 521,797 480,751 502,002 109,791 70,781 114,376 367,561 899,175

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 2, 2021 (continued)

Millions of dollars

Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco

Liabilities

Federal Reserve notes, net 2,129,739 63,060 695,802 62,824 104,820 157,541 300,941 128,751 58,263 32,738 53,633 188,704 282,662

Reverse repurchase agreements6 672,906 11,245 380,364 14,212 24,484 45,090 39,427 36,721 8,773 5,207 8,936 29,757 68,690

Deposits 5,031,882 92,620 3,063,290 120,038 160,797 309,994 137,795 334,274 41,758 31,562 51,099 147,730 540,927

Depository institutions 3,848,262 92,601 2,058,956 120,037 160,524 309,161 137,663 160,029 41,749 31,065 48,395 147,183 540,900

U.S. Treasury, General Account 812,087 0 812,087 0 0 0 0 0 0 0 0 0 0

Foreign official 26,748 2 26,722 1 3 8 2 2 1 0 0 1 6

Other7 344,785 17 165,526 0 269 825 131 174,243 8 497 2,703 546 21

Earnings remittances due to the U.S.

Treasury8 2,742 49 1,545 53 98 202 167 149 32 26 29 123 268

Treasury contributions to credit facilities9 50,278 16,572 33,706 0 0 0 0 0 0 0 0 0 0

Other liabilities and accrued

dividends 8,647 -2,049 5,465 279 358 802 627 566 222 900 246 417 813

Total liabilities 7,896,195 181,497 4,180,173 197,406 290,558 513,628 478,958 500,461 109,049 70,432 113,942 366,730 893,361

Capital

Capital paid in 32,724 1,472 10,986 1,164 2,796 6,756 1,486 1,275 613 291 361 709 4,815

Surplus 6,785 308 2,280 244 587 1,412 307 266 129 58 73 122 999

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

Total liabilities and capital 7,935,703 183,276 4,193,439 198,813 293,941 521,797 480,751 502,002 109,791 70,781 114,376 367,561 899,175

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 2, 2021 (continued)

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

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

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

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

secondary, and seasonal loans and credit extended through the Primary Dealer Credit 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 each Federal Reserve Bank’s allotted surplus cap.

9. Book value. Amount of equity investments in Commercial Paper Funding Facility II LLC of $10 billion, Corporate Credit Facilities LLC of $13.9 billion, MS Facilities LLC of $16.6 billion, and

Municipal Liquidity Facility LLC of $6.3 billion, and TALF II LLC of $3.5 billion.

 

Note on consolidation:

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

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

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

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

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

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

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

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

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

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

used to secure the loan from the FRBB.

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

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

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

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

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

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

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

Millions of dollars

Wednesday Federal Reserve notes and collateral Jun 2, 2021

Federal Reserve notes outstanding 2,305,556

Less: Notes held by F.R. Banks not subject to collateralization 175,817

Federal Reserve notes to be collateralized 2,129,739

Collateral held against Federal Reserve notes 2,129,739

Gold certificate account 11,037

Special drawing rights certificate account 5,200

U.S. Treasury, agency debt, and mortgage-backed securities pledged1,2 2,113,502

Other assets pledged 0

Memo:

Total U.S. Treasury, agency debt, and mortgage-backed securities1,2 7,365,641

Less: Face value of securities under reverse repurchase agreements 633,969

U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 6,731,671

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.